Baird Maintains an 'Outperform' on Cubist Pharmaceuticals (CBST); Q3-11: Sizable Beat and Raise
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Price: $101.94 --0%
Rating Summary:
6 Buy, 13 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
6 Buy, 13 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Baird maintains an 'Outperform' on Cubist Pharmaceuticals (NASDAQ: CBST) price target raised from $40 to $46.
Baird analyst says, "Continue to recommend purchase following impressively good quarter and outlook. The magnitudes of the beat and the raise were each about double what even we anticipated, and the strength they reflect should be sustainable. Sentiment heading in wasn't overly positive, and this update reinforces the bull thesis, so the stock should react favorably. Our price target increase to $46 is driven by fundamentals and supported by a DCF still suggesting minimal downside and multiple potential ways to win to the upside...Our 2011E EPS goes to $0.75 from $0.60 and is still probably too conservative. Our 2012E EPS goes to $1.70 from $1.72, absorbing higher R&D as expected."
For more ratings news on Cubist Pharmaceuticals click here and for the rating history of Cubist Pharmaceuticals click here.
Shares of Cubist Pharmaceuticals closed at $36.42 yesterday.
Baird analyst says, "Continue to recommend purchase following impressively good quarter and outlook. The magnitudes of the beat and the raise were each about double what even we anticipated, and the strength they reflect should be sustainable. Sentiment heading in wasn't overly positive, and this update reinforces the bull thesis, so the stock should react favorably. Our price target increase to $46 is driven by fundamentals and supported by a DCF still suggesting minimal downside and multiple potential ways to win to the upside...Our 2011E EPS goes to $0.75 from $0.60 and is still probably too conservative. Our 2012E EPS goes to $1.70 from $1.72, absorbing higher R&D as expected."
For more ratings news on Cubist Pharmaceuticals click here and for the rating history of Cubist Pharmaceuticals click here.
Shares of Cubist Pharmaceuticals closed at $36.42 yesterday.
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