Bank of America upgraded Haemonetics to Buy from Neutral on Thursday, citing a recent supply deal the blood management solutions provider signed with Australian biopharma company CSL Limited. The non-exclusive deal follows CSL's decision to terminate its plasma supply agreement with Haemonetics in 2021 and carries no minimum purchase requirements, BofA analyst Joanne Wuensch wrote. Wuensch said that in a healthy plasma market, the return of the CSL contract in the US market should provide upside to organic revenue growth, operating margins, and EPS over the next several years, and she raised her price target on Haemonetics to $123 from $92 per share. Haemonetics, based in Boston, Massachusetts, disclosed the deal last month and said it will report the financial impact on fiscal 2027 results alongside its fiscal second-quarter earnings, scheduled for November.
Haemonetics CorporationBofA upgraded Haemonetics to Buy and raised its price target to $123 from $92
Bank of America CorpCSL signed a non-exclusive supply deal with Haemonetics after terminating its prior agreement in 2021
