Dutton Associates Announces Investment Opinion: Minrad International Rating at Strong Buy in Initiating Coverage by Dutton Associates.EL DORADO El Dorado, legendary country of South America El Dorado (ĕl`dərä`dō, –rā`–) [Span.,=the gilded man], legendary country of the Golden Man sought by adventurers in South America. HILLS, Calif. -- Dutton Associates initiated coverage of Minrad International (AMEX AMEX See: American Stock Exchange :BUF (BUFfer gate) A logic gate that generates the same output as the input. It is used as a relay to increase power, to add some delay in the circuit and to isolate signals. See logic gate.  ) with a rating of Strong Buy and a price target of $5.85. The 12-page report by Dutton senior analyst William R. Prather, R.Ph., M.D., is available at www.jmdutton.com as well as from First Call, Bloomberg, Zacks, Reuters, Knobias, and other leading financial portals. Minrad International Inc. (Minrad) is an interventional pain management company that participates in two complementary segments: (1) anesthesia and analgesia analgesia /an·al·ge·sia/ (an?al-je´ze-ah) 1. absence of sensibility to pain. 2. the relief of pain without loss of consciousness. , especially conscious sedation conscious sedation, n a state of sedation in which the patient remains aware of his or her person, surroundings, and conditions but without experiencing pain or anxiety. , and (2) real-time surgical image guidance. We believe these businesses offer compelling investment stories in their own right. However, the anticipated growth of the Company's generic inhalation anesthetic inhalation anesthetic n. A gas or a vaporous liquid that produces general anesthesia when breathed. inhalation anesthetic business alone should provide significant increases in Minrad's market value and allow for successes in conscious sedation and real-time imaging 'real-time' imaging Visualization of a dynamic process µsecs after occurring, which requires rapid information processing–ie, as the process occurs, as in 'B' mode ultrasound to provide "icing on the cake." If the investment community agrees that Minrad is able to earn close to our 2007 estimate of $0.49 per share on revenues of $72 million, then applying a very conservative multiple of 12 brings us to our 12-month price target of $5.85 and reason for our Strong Buy investment rating. About Dutton Associates Dutton Associates is one of the largest independent investment research firms in the U.S. Its 28 senior analysts are primarily CFAs, and have expertise in many industries. Dutton Associates provides continuing analyst coverage of over 120 enrolled companies, and its research, estimates, and ratings are carried in all the major databases serving institutions and online investors. The cost of enrollment in our one-year continuing research program is US $35,000 prepaid before commencement of our research activities. We received $35,000 from the Company for 4 reports and requisite Research Notes commencing 2/02/2006, and do not accept payment of our fees in company stock. Our principals and analysts are prohibited from owning or trading in securities of covered companies. The views expressed in this research report accurately reflect the analyst's personal views about the subject securities or issuer. Neither the analyst's compensation nor the compensation received by us is in any way relate to the specific ratings or views contained in this research report or note. Please read full disclosures and analyst background at www.jmdutton.com before investing. |
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