Union City, California, -based Abaxis (NASDAQ:ABAX), a company that manufactures and sells portable blood analysis systems for human and veterinary uses, has seen its stock corrected almost 25% from the top it created at $51.84 in July. Currently the stock is consolidating around $40 and looks dirt-cheap post correction. In this investment thesis I will explain why investors should consider accumulating the stock in this corrective phase. I expect the stock to rise ~50% from the current level over the next 12 months, against a very limited downside of not more than 5%.
Abaxis is famous for its blood constituent measurement devices. Its point-of-care blood chemistry analyzer systems are used extensively in human medical and veterinary
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