Top Stock to Buy #2 – Bio-Reference Laboratories (BRLI)
Bio-Reference Laboratories (NASDAQ:BRLI) is a health care facilities company that provides laboratory testing to customers in New York City and other urban areas. The company is expanding esoteric testing, an analysis of rare substances that isn’t performed by most clinical labs.
The stock has risen in one year from $12 to $30 as a result of an improvement in revenues and earnings. FY 2012 earnings (ended in October) are expected to be around $1.51, and FY 2013 estimates are for $1.77.
Technically the stock made an impressive break in June from a cup-and-handle formation and quickly ran from $23 to over $30. It is consolidating in what appears to be a developing bull channel with a target of $35.