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Needham & Company Downgrades Lannett Co (LCI) to Hold

October 4, 2013 6:39 AM EDT Send to a Friend
Get Alerts LCI Hot Sheet
Price: $32.48 -1.04%

Rating Summary:
    2 Buy, 1 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 27 | Down: 14 | New: 10
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Needham & Company downgraded Lannett Co (NYSE: LCI) from Buy to Hold citing valuation and increased near-term risk.

"We are reducing our rating to Hold from Buy as we believe the shares' 60% surge over the past three weeks has essentially discounted nearly best-case scenarios on current fundamentals," analyst Elliot Wilbur states. "At 20.0x our high on the Street F2015 EPS estimate, valuation already seems to incorporate best case scenarios around potential additional levothyroxine-driven upside, with further upside appreciation now essentially dependent upon far less predictable additional new approvals and/or strategic activity (product and/or company deals)."

For an analyst ratings summary and ratings history on Lannett Co click here. For more ratings news on Lannett Co click here.

Shares of Lannett Co closed at $20.93 yesterday.




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