Canaccord Genuity Maintains a 'Buy' on Hi Tech Pharmacal (HITK); Accumulate on Pullback
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Price: $32.27 +2.64%
Rating Summary:
3 Buy, 1 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Rating Summary:
3 Buy, 1 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Trade HITK Now!
Canaccord Genuity maintains a 'Buy' on Hi Tech Pharmacal (NASDAQ: HITK) price target of $45.00.
Analyst, Randall Stanicky, said, "YTD performance (down -18%) and attractive valuation (4.5x EV/EBITDA on fiscal 2014E) have created a pick-up in interest in the stock. Upcoming fiscal Q4 EPS (week of July 9) could see pressure on a combination of lower cough and cold and higher near-term SG&A spending (we recently cut EPS to $0.73 from prior $0.81). Street EPS has remained largely static (consensus at $0.78) since early March, creating what could be a tougher set-up. Absent something unforeseen from results, we think a pull-back on results could create a buying opportunity on an attractive high barrier generic asset we continue to like into fiscal 2013."
For an analyst ratings summary and ratings history on Hi Tech Pharmacal click here. For more ratings news on Hi Tech Pharmacal click here.
Shares of Hi Tech Pharmacal closed at $32.09 yesterday, with a 52 week range of $23.72-$44.58.
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Analyst, Randall Stanicky, said, "YTD performance (down -18%) and attractive valuation (4.5x EV/EBITDA on fiscal 2014E) have created a pick-up in interest in the stock. Upcoming fiscal Q4 EPS (week of July 9) could see pressure on a combination of lower cough and cold and higher near-term SG&A spending (we recently cut EPS to $0.73 from prior $0.81). Street EPS has remained largely static (consensus at $0.78) since early March, creating what could be a tougher set-up. Absent something unforeseen from results, we think a pull-back on results could create a buying opportunity on an attractive high barrier generic asset we continue to like into fiscal 2013."
For an analyst ratings summary and ratings history on Hi Tech Pharmacal click here. For more ratings news on Hi Tech Pharmacal click here.
Shares of Hi Tech Pharmacal closed at $32.09 yesterday, with a 52 week range of $23.72-$44.58.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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