ORLANDO, Fla., Aug. 2, 2006 (PRIMEZONE) -- RedChip Independent, a division of RedChip Companies, announced a research update on Nutrition 21 Inc. (Nasdaq:NXXI).
Leslie Richardson, RedChip Research Analyst, Level III CFA Candidate, wrote in the report:
"We have placed a target price of $3.64 on NXXI. Our valuation is derived from a P/S of 6x, fiscal 2007 revenues of $27 million, and 45 million shares outstanding. NXXI's stock price has been under pressure since our initiation in June, and we feel this creates a buying opportunity. The Company is in the early stage of implementing its strategy of creating a new supplement category and being the brand leader."
To receive a complimentary copy of the RedChip Independent research update for NXXI, please visit: http://www.redchip.com/independent/subscriber.asp?page=requestNXXIupdate.
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RedChip Independent Research Disclosure
The analysts contributing to this NXXI RedChip report do not hold any shares of NXXI. Additionally, the analysts contributing to this report certify that the views expressed herein accurately reflect the analysts' personal views as to the subject securities and issuers. RedChip certifies that no part of the analysts' compensation was, is, or will be, directly or indirectly, related to the specific recommendation or views expressed by the analyst in the NXXI RedChip report. Additional information on the securities mentioned in this report is available upon request. NXXI is not a client of RedChip Company or Aurelius Consulting Group, a RedChip affiliate.
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