STARLIMS Technologies initiated with "market outperform" - update

08/21/07 - JMP Securities

NEW YORK, August 21 (newratings.com) - Analysts at JMP Securities initiate coverage of STARLIMS Technologies Ltd (LIMS) with a "market outperform" rating. The target price is set to $14.

In a research note published this morning, the analysts mention that the company is benefiting from the worldwide trend of laboratories switching from the legacy and custom LIMS systems to the commercial, web-based solutions. STARLIMS Technologies’ primary growth drivers include the transition towards pure-play LIMS solutions, the growing involvement of the IT department in the LIMS selections and a legacy replacement cycle, the analysts say. The company has posted 6% y/y overall revenue growth for 2Q.