Canaccord Genuity Maintains a 'Buy' on Hi Tech Pharmacal (HITK); Updating Model
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Price: $32.93 -0.06%
Rating Summary:
3 Buy, 1 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 10 | Down: 22 | New: 19
Rating Summary:
3 Buy, 1 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 10 | Down: 22 | New: 19
Trade HITK Now!
Canaccord Genuity maintains a 'Buy' on Hi Tech Pharmacal (NASDAQ: HITK) price target of $45.00.
Analyst, Randall Stanicky, said, "Bottom line: we lower EPS estimates but make no change to our rating or target which implies ~ 14% upside from today’s close. Model update – lower EPS largely on gross margin assumptions We make several adjustments post the quarter and catch-up with management, with the net being lower EPS estimates through fiscal 2016 – though less so in the out-years. We leave potential for upward revision from: (1) less competitive fluticasone impact; (2) pipeline conversion we have not modeled; and (3) business development where focus remains."
For an analyst ratings summary and ratings history on Hi Tech Pharmacal click here. For more ratings news on Hi Tech Pharmacal click here.
Shares of Hi Tech Pharmacal closed at $39.63 yesterday, with a 52 week range of $19.10-$44.58.
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Analyst, Randall Stanicky, said, "Bottom line: we lower EPS estimates but make no change to our rating or target which implies ~ 14% upside from today’s close. Model update – lower EPS largely on gross margin assumptions We make several adjustments post the quarter and catch-up with management, with the net being lower EPS estimates through fiscal 2016 – though less so in the out-years. We leave potential for upward revision from: (1) less competitive fluticasone impact; (2) pipeline conversion we have not modeled; and (3) business development where focus remains."
For an analyst ratings summary and ratings history on Hi Tech Pharmacal click here. For more ratings news on Hi Tech Pharmacal click here.
Shares of Hi Tech Pharmacal closed at $39.63 yesterday, with a 52 week range of $19.10-$44.58.
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