Morgans Research maintain an add recommendation on GI Dynamics (GID) with a price target of $1.61

Morgans Research maintain an add recommendation on GI Dynamics (GID) with a price target of $1.61. Momentum is set to continue and Morgans view 2013 as a strong base-building year, with solid EndoBarrier sales growth underpinned by 50 centres of excellence (COE). Morgans believe momentum can continue, as awareness/adoption grows, 20 additional COEs come online, self-pay markets begin to bear fruit and continued building-blocks are laid for national reimbursement. The Broker increased FY14 net loss by 4% on more reasonable EndoBarrier sales expectations and ongoing infrastructure building, they are encouraged by the growing traction among physicians/ patients and continue to forecast 2016 profitability.