Zacks Investment Research downgraded shares of CryoPort Inc (CYRX) from OUTPERFORM to NEUTRAL on February 08, 2013, with a target price of $2.35.
In addition to the new leadership we see several catalysts to near-term revenue growth including resolution of the issues related to FedEx and the CryoPortal interface, the recent addition of new shipper sizes, a new focus on qualifying customers and identifying the low-hanging fruit, and the newly introduced broader menu of shipper and service offerings to appeal to a more diverse customer base. The long, drawn-out tire-kicking process by potential customers will likely continue to be a necessary evil before some customers adopt the full CryoPort Express Solution (which we still view as CYRX's long-term growth driver) but ancillary offerings should provide a meaningful contribution to the top-line and help cash generation in the near-term.
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