ORLANDO, Fla., Feb. 19, 2008 (PRIME NEWSWIRE) -- RedChip Independent, a division of RedChip Companies Inc., today announced that it has initiated research coverage on Sharps Compliance Corporation (OTCBB:SCOM), manufacturer of the Sharps Disposal by Mail System(r), the leading method for the safe disposal of needles, syringes and other small quantities of medical waste.
RedChip Research Analyst Matthew Kantrowitz, MBA, wrote in the report: "Sharps Compliance Corp. leverages an experienced management team, first mover advantage, and recurring revenue model to produce value-added products and services for the small quantity medical waste market. Demand for SCOM's innovative products and services, led by the Sharps Disposal by Mail System, its primary product, continues to expand as a result of government regulation and the growing awareness of the need to properly handle sharps medical waste for safety and environmental concerns. We believe SCOM is well positioned to capitalize on a burgeoning medical waste market and expect the Company to increase its penetration of non-traditional markets, including hospitality and pharmaceutical manufacturers. We are initiating coverage with a 'Buy' rating and a 12-month price target of $6.30."
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