RBC Capital Cuts Price Target on Impax Laboratories (IPXL) Following Unexpected 2Q Miss
- Donald Trump Sworn in as 45th U.S. President
- Wall Street ends higher as Trump becomes president
- Walgreens Boots Alliance (WBA) Said to Face Antitrust Concern for Rite Aid (RAD) Fix - Bloomberg
- Bristol-Myers Squibb (BMY) Says It Won't Pursue Accelerated U.S. Regulatory Pathway for Opdivo Plus Yervoy in Lung Cancer
- Apple (AAPL) Sues Qualcomm (QCOM) Over Patent Royalties in Antitrust Case - Bloomberg
Get daily under-the-radar research with StreetInsider.com's Stealth Growth Insider Get your 2-Wk Free Trial here.
RBC Capital maintained a Sector Perform rating on Impax Laboratories (NASDAQ: IPXL), and cut the price target to $30.00 (from $35.00), following the company's 2Q earnings report. RBC updated IPXL's model with new 2016-18 EPS estimates of $1.58, $2.24 and $2.46.
Analyst Randall Stanicky commented, "Shares were -23% on an unexpected 2Q miss and guide down driven by a host of factors within Generics. From here there are three things we believe matter (i) is new guidance achievable (ii) can IPXL surprise either via capital deployment or pipeline and (iii) where can valuation hold given group volatility. We are lowering our target to $30."
Shares of Impax Laboratories closed at $23.43 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Checkpoint Software (CHKP) PT Raised to $94 at Stifel Following 4Q Beat
- Union Pacific (UNP) PT Raised to $102 at Stifel Following 4Q Report
- Skyworks Solutions (SWKS) PT Raised to $92 at Needham & Company Following Solid 1Q Beat and Raise
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst PT Change
Related EntitiesRBC Capital, Earnings
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!