SOURCE: CardioDynamics International

December 18, 2008 09:15 ET

California Equity Research Initiates Coverage of CardioDynamics Intl. With a Buy Rating

SAN DIEGO, CA--(Marketwire - December 18, 2008) - California Equity Research, LLC, a leading independent investment research firm focused on California equities, is initiating coverage of CardioDynamics International Corporation (NASDAQ: CDIC) ($0.60) with a Buy rating and price target of $3.50. The following excerpts are from the CardioDynamics research report.

--  CardioDynamics shares are significantly undervalued trading at a TTM
    revenue multiple of 0.17x.

--  CardioDynamics revenue is expected to grow at an 8% annual rate
    through 2010 based on:

    --  New initiatives and additions to sales and marketing

    --  Next generation BioZ product to be released in late 2009

    --  Growing traction in overseas markets particularly Eastern Europe

    --  Important clinical studies due for release in 2010 on hypertension
        and CHF

More information on the 21-page CardioDynamics research report can be obtained by calling 866.928.2600 or by visiting online at Please refer to our website for a full list of disclosures.

California Equity Research, LLC is an independent, research-only investment firm that exclusively covers underfollowed opportunities in California. Our research is produced by experienced analysts that have one committed goal: providing timely, value-added research ideas to our clients. For more information about California Equity Research please visit us online at or call 866.928.2600.

Contact Information

    Bud Leedom
    Director of Research
    California Equity Research, LLC