Canaccord Genuity on Life Sciences/Specialty Pharmaceuticals: Q4/11 Preview: Post-2012 Message a Growing Focus: WPI and IPXL Top Ideas
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Canaccord Genuity on Life Sciences/Specialty Pharmaceuticals: Q4/11 preview: post-2012 message a growing focus; WPI and IPXL top ideas
Analyst, Randall Stanicky, said, "Calendar Q4 earnings will be a non-event for most – but other catalysts exists With half of our coverage already pre-announcing or providing 2012 guidance, we believe Q4 results will be a non-event for several of our companies. Relative to themes, there are three things to focus on from the calls: (1) the message around growth in 2013 and beyond; (2) color around non-earnings related catalysts (we see several); and (3) M&A discussion as we expect more deal activity with a “buy the buyer” set-up. Our top ideas remain Watson (NYSE: WPI) (mid/large cap) and Impax Laboratories (Nasdaq: IPXL) (small cap) – both are rated BUY and fit well into the themes above."
"Q4 updates key for Perrigo (Nasdaq: PRGO) and Mylan (NYSE: MYL) (both HOLD); WPI and IPXL (both BUY) still top ideas Post a bottom-up review of our coverage, we think most Q4 volatility will come from MYL and PRGO but for different reasons – they are also the only two (> $1 billion in cap) to not have either pre-announced or given a guidance update. Our two top BUY ideas remain WPI and IPXL but we frankly see little surprise coming from either with Q4 earnings."
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Analyst, Randall Stanicky, said, "Calendar Q4 earnings will be a non-event for most – but other catalysts exists With half of our coverage already pre-announcing or providing 2012 guidance, we believe Q4 results will be a non-event for several of our companies. Relative to themes, there are three things to focus on from the calls: (1) the message around growth in 2013 and beyond; (2) color around non-earnings related catalysts (we see several); and (3) M&A discussion as we expect more deal activity with a “buy the buyer” set-up. Our top ideas remain Watson (NYSE: WPI) (mid/large cap) and Impax Laboratories (Nasdaq: IPXL) (small cap) – both are rated BUY and fit well into the themes above."
"Q4 updates key for Perrigo (Nasdaq: PRGO) and Mylan (NYSE: MYL) (both HOLD); WPI and IPXL (both BUY) still top ideas Post a bottom-up review of our coverage, we think most Q4 volatility will come from MYL and PRGO but for different reasons – they are also the only two (> $1 billion in cap) to not have either pre-announced or given a guidance update. Our two top BUY ideas remain WPI and IPXL but we frankly see little surprise coming from either with Q4 earnings."
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