Canaccord Genuity Maintains a 'Buy' on Impax Laboratories (IPXL); Thesis Unchanged After Meetings With Management

Canaccord Genuity maintains a 'Buy' on Impax Laboratories (NASDAQ: IPXL) price target of $29.00.

Analyst, Randall Stanicky, said, "The near-term path remains attractive and catalyst heavy, with last week’s 4Q earnings and our ensuing management meetings adding comfort to our view that our $29 price target has a near-term bias to it. Message remains on point that (1) more deals this year are the focus, (2) P&L is set to inflect this year as 2013 approaches and (3) the warning letter close-out is now on the FDA with IPXL work complete. Our rating and price target are unchanged ahead of further meetings we’ll be hosting with management in the coming weeks as we look to stay close to what is our top small cap generic stock idea."

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 $23.03 yesterday.

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