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Monday May 8, 2:50 pm Eastern Time
Company Press Release
SOURCE: Neogen Corporation
Neogen: Analysts Issue 'Buy' Recommendation
LANSING, Mich., May 8 /PRNewswire/ -- Recent reports issued by analysts for Hilliard Lyons and The Red Chip Review have reaffirmed their ``Buy''
recommendations on Neogen Corporation (Nasdaq: NEOG - news) stock.
Hilliard Lyons issued a new research report on April 13 with a ``Buy'' recommendation, and a 12 month price target of $9 per share for Neogen stock.
Hilliard Lyons (www.hilliard.com ) is an investment banking firm with more than 600 financial consultants in nearly 100 branches in 16 states generally
east of the Mississippi River. One of company's founders first bought a seat on the New York Stock Exchange in 1878.
On March 30, The Red Chip Review issued a ``Buy'' recommendation for Neogen, with a 2000 calendar year stock price target of $11 per share. The Red
Chip Review (www.redchip.com ) is one of the country's leading sources of investment research on small-cap companies. It follows undervalued small-cap
stocks that offer unusual growth potential.
In addition, recent interviews with Neogen CEO and President James Herbert concerning the Company's current standing, and future prospects, will soon
be available through The Wall Street Transcript (www.twst.com ), and The Wall Street Corporate Reporter (www.wscr.com ). Both major private financial
reporting groups recently chose Neogen as a focus for their subscribers in the investment community. The interviews are available through their respective
Web sites, or by visiting Neogen's Web site at www.neogen.com .
``We are very aware of the importance of these reports to the investment community,'' said Richard Current, Neogen's chief financial officer. ``We're very
pleased with the increasing opportunities to discuss Neogen's attractive fundamentals with a wider investment audience.''
Neogen will be discussing its prospects directly with the investment community as a presenter at the RedChip.com Investor Conference on June 19 in San
Francisco. The goal of the conference is to bring together small-cap company management and investors, and to learn why undervalued and under-
followed companies make sound investments today. There is no charge for investors wishing to attend this event, but you must register prior to the event
by visiting www.redchip.com.
The Company has continued to buy back its common stock in recent months, with the total repurchase now at 513,000 shares. In February, Neogen's Board
of Directors increased its authorization of Company common stock repurchase from 500,000 to 750,000 shares. Neogen's Board and management continue
to believe there is no fundamental reason the stock price has not reflected the company's performance, and at the recent stock price, view the repurchase
program as a sound use of company assets.
Neogen Corporation develops and markets products and services dedicated to food and animal safety. The Company's Food Safety Division markets
diagnostic test kits to detect foodborne bacteria, natural toxins, food allergens, drug residues, plant diseases and sanitation concerns. Neogen's Animal
Safety Division markets a complete line of diagnostics, veterinary instruments and a line of premium equine health care products.
Certain portions of this news release that do not relate to historical financial information constitute forward-looking statements. These forward- looking
statements are subject to certain risks and uncertainties. Actual future results and trends may differ materially from historical results or those expected
depending on a variety of factors listed in Management's Discussion and Analysis of Financial Condition and Results of Operations in the Company's most
recently filed Form 10-K.
SOURCE: Neogen Corporation |
