Roth Capital Raises Price Target on Lannett (LCI) Following Acquisition of Kremers Urban Pharmaceuticals

Roth Capital reiterated a Buy rating on Lannett Co (NYSE: LCI), and raised the price target to $68.00 (from $62.00), following the transformative acquisition of Kremers Urban Pharmaceuticals. The transaction almost doubles the revenue base for LCI, and suggests 2016 EPS accretion of mid-to-high single digits and 20-25% in 2017.

Analyst Scott Henry commented, "LCI announced a transformative acquisition of Kremers Urban Pharmaceuticals for $1.23B in cash. This deal could potentially double the revenue base and be accretive to 2016/17 EPS targets (20-25% in 2017). We reiterate our Buy rating with an increased PT of $68 to reflect EPS accretion."

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 $49.48 yesterday.

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