Stockbroker tips from ShareCast

Broker snap: Immunodiagnostic Systems has legs

Daniel Stewart believes in running its winners, backing diagnostics testing kit firm Immunodiagnostic Systems (IDH) despite more than tripling in value since it started coverage with a 'buy' note in January 2008.

"With IDS now moving into the much larger fully automated testing market, we estimate that the group will continue delivering supernormal returns," said analyst Vadim Alexandre.

"On the strength of IDS's product pipeline, and given management's current business strategy, we are confident that the company's share price will continue to outperform the market well into the future."

The target price rises to 921p from 773p following last week's news that pre-tax profit rose to almost £11m in the year to 31 March from £4.78m a year earlier. Revenue jumped 49% to £37.16m, helped by demand for its vitamin D testing kit and successful roll out of the IDS-iSYS kit.

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