Jefferies Raises Numbers On Impax Laboratories (IPXL) After Strong Q4; Maintains Hold Rating
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Price: $18.30 --0%
Rating Summary:
8 Buy, 15 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 15 | New: 40
Rating Summary:
8 Buy, 15 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 15 | New: 40
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Jefferies raised estimates and its price target on Impax Laboratories (NASDAQ: IPXL) from $17 to $21 after the company "crushed" Q4 views on higher generic Adderall XR revenue.
The firm comments, "The big question: what’s the AXR run-rate going forward? That’s uncertain w/ no guidance, even qualitative, but we already assume IPXL/Shire work it out and AXR is up 26% in ‘12. IPXL’s confident in Warning Letter resolution soon. That would be great, but likely already in the #’s. We raise target to $21, on increased ests. and higher multiple."
Q1 EPS was raised from $0.52 to $0.53, FY12 from $1.88 to $1.92 and FY13 from $1.35 to $1.42.
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 $23.62 yesterday.
The firm comments, "The big question: what’s the AXR run-rate going forward? That’s uncertain w/ no guidance, even qualitative, but we already assume IPXL/Shire work it out and AXR is up 26% in ‘12. IPXL’s confident in Warning Letter resolution soon. That would be great, but likely already in the #’s. We raise target to $21, on increased ests. and higher multiple."
Q1 EPS was raised from $0.52 to $0.53, FY12 from $1.88 to $1.92 and FY13 from $1.35 to $1.42.
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 $23.62 yesterday.
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