Zacks Investment Research upgraded shares of LabStyle Innovations Corp. (DRIO) from N/A to OUTPERFORM on May 15, 2013, with a target price of $12.00.
We are initiating coverage of LabStyle Innovations Corp. with a Buy rating. We think that Dario is of elegant design, with outstanding usability and accessibility by integrating a pocket-sized glucometer with a smartphone and mobile application. Dario combines a lancing mechanism, disposable strip cartridge, and glucose monitor with attached plug for insertion into a smartphone audio jack. It is the first and only produce to date that we see that combined all three components, along with intuitive and valuable application software. We see the Dario glucometer and diabetes management system as revolutionary in design and function. The shares are meaningfully under-valued in our view. Our target is $12 per share.
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