Canaccord Genuity Maintains a 'Hold' on Impax Laboratories (IPXL); Continue to See Upside Case Developing Post Dinner with Mgmt
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Price: $18.30 --0%
Rating Summary:
8 Buy, 15 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
8 Buy, 15 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Canaccord Genuity maintains a 'Hold' on Impax Laboratories (NASDAQ: IPXL) price target of $21.00.
Canaccord analyst, Randall Stanicky, said, "We held a timely late-year investor dinner with Impax CFO Art Koch that shed light into key areas of focus in a story that we continue to warm up to. The upcoming 2012 is clearly a transition year as the manufacturing remediation progresses and business development increases in focus – both key aspects of the story with direct impact on the P&L. That said, we continue to be encouraged by the progress and see a more attractive outlook developing for those with a view to 2013+ as the story de-risks and upside drivers begin to emerge. Bottom line: we see solid downside protection based on our SOTP valuation analysis. For now, we remain HOLD rated with an unchanged price target though clearly see a much better risk/reward in the stock forming."
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 $18.88 yesterday.
Canaccord analyst, Randall Stanicky, said, "We held a timely late-year investor dinner with Impax CFO Art Koch that shed light into key areas of focus in a story that we continue to warm up to. The upcoming 2012 is clearly a transition year as the manufacturing remediation progresses and business development increases in focus – both key aspects of the story with direct impact on the P&L. That said, we continue to be encouraged by the progress and see a more attractive outlook developing for those with a view to 2013+ as the story de-risks and upside drivers begin to emerge. Bottom line: we see solid downside protection based on our SOTP valuation analysis. For now, we remain HOLD rated with an unchanged price target though clearly see a much better risk/reward in the stock forming."
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 $18.88 yesterday.
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