RBC Capital Adds 'Speculative Risk' Qualifier to Concordia (CXRX) Rating, PT Cut to $14
- Banks, telecoms lead Wall Street up; another Dow record
- Western Digital (WDC) Raises Q2 Outlook
- bluebird bio (BLUE) to Offer $200M of Common Stock
- Dave & Buster's Entertainment (PLAY) Tops Q3 EPS by 11c, Raises FY Revenue Guidance
- After-Hours Stock Movers 12/06: (PLAY) (ANTH) (WDC) Higher; (AVAV) (ESV) (BLUE) Lower (more...)
News and research before you hear about it on CNBC and others. Claim your 2-week free trial to StreetInsider Premium here.
RBC Capital analyst Douglas Miehm added a Speculative Risk qualifier to his Outperform rating on Concordia Healthcare (NASDAQ: CXRX) and lowered his price target to $14.00 (from $25.00).
Miehm commented, "The NHS tabled a bill late last week to further control UK medical costs. While we have highlighted this risk for some time, we note that the impact on AMCo remains relatively unknown, so we have adopted a cautious stance and reduced 2017E revenues by ~$32MM and Adj. EBITDA by ~$26MM. While CXRX appears inexpensive, we have assigned a Speculative Risk qualifier given likely volatility. We also lower our price target to $14 from $25."
Shares of Concordia Healthcare closed at $5.40 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Cowen Downgrades Nike (NKE) to Neutral; Sees Lower Guidance
- BMO Capital Raises Price Target on Gildan Activewear (GIL) Following Investor Meetings
- UPDATE: Stifel Upgrades Green Plains Partners LP (GPP) to Buy
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change
Related EntitiesRBC Capital
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!