RBC Capital Cuts Price Target on Impax Laboratories (IPXL) Following Unexpected 2Q Miss

August 10, 2016 7:39 AM EDT
Get Alerts IPXL Hot Sheet
Price: $21.80 -0.23%

Rating Summary:
    10 Buy, 15 Hold, 2 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 25 | Down: 28 | New: 31
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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."

For an analyst ratings summary and ratings history on Impax Laboratories click here. For more ratings news on Impax Laboratories click here.

Shares of Impax Laboratories closed at $23.43 yesterday.

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