Canaccord Genuity Downgrades Inhibitex (INHX) to Hold; Hostile Bid Unlikely As Closing Nears
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Price: $26.00 --0%
Rating Summary:
5 Buy, 5 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
5 Buy, 5 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Canaccord Genuity downgraded Inhibitex (NASDAQ: INHX) from Buy to Hold, price target cut to $26.00.
Analyst, George Farmer, said, "We downgrade INHX shares to HOLD, reflecting our view of an unlikely hostile bid emerging against Bristol-Myers Squibb’s intended acquisition price of $26...We see a negligible possibility of serious adverse events popping up before expiration of BMS’s $26 tender offer February 10, 2012. Moreover, with no hostile bid emerging since the January 7 deal announcement, it also appears less likely to us that potential competitive offers will materialize, thus offering limited upside from the current share price."
For an analyst ratings summary and ratings history on Inhibitex click here. For more ratings news on Inhibitex click here.
Shares of Inhibitex closed at $24.70 yesterday.
Analyst, George Farmer, said, "We downgrade INHX shares to HOLD, reflecting our view of an unlikely hostile bid emerging against Bristol-Myers Squibb’s intended acquisition price of $26...We see a negligible possibility of serious adverse events popping up before expiration of BMS’s $26 tender offer February 10, 2012. Moreover, with no hostile bid emerging since the January 7 deal announcement, it also appears less likely to us that potential competitive offers will materialize, thus offering limited upside from the current share price."
For an analyst ratings summary and ratings history on Inhibitex click here. For more ratings news on Inhibitex click here.
Shares of Inhibitex closed at $24.70 yesterday.
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