Canaccord Genuity Maintains a 'Buy' on Hi Tech Pharmacal (HITK); Lowering FQ3 on Softer Anticipated Cough and Cold Season
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Price: $43.49 --0%
Rating Summary:
1 Buy, 2 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
1 Buy, 2 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Canaccord Genuity maintains a 'Buy' on Hi Tech Pharmacal (NASDAQ: HITK) price target of $45.00.
Analyst, Randall Stanicky, said, "We are lowering our fiscal Q3 EPS to $0.82 (from $0.98), which is more in line with Street expectations given what we think will be some impact from the well-understood softer cough and cold season. We think any impact here is largely contained to fiscal Q3 and make no material changes to out-year forecasts. Our outlook on the stock is unchanged as are our other line item-forecasts, which are backed up by recent checks around fluticasone where we believe the competitive impact from Wockhardt’s launch has been limited and likely trending in line or better than our current (and unchanged) forecasts."
For an analyst ratings summary and ratings history on Hi Tech Pharmacal click here. For more ratings news on Hi Tech Pharmacal click here.
Shares of Hi Tech Pharmacal closed at $41.83 yesterday.
Analyst, Randall Stanicky, said, "We are lowering our fiscal Q3 EPS to $0.82 (from $0.98), which is more in line with Street expectations given what we think will be some impact from the well-understood softer cough and cold season. We think any impact here is largely contained to fiscal Q3 and make no material changes to out-year forecasts. Our outlook on the stock is unchanged as are our other line item-forecasts, which are backed up by recent checks around fluticasone where we believe the competitive impact from Wockhardt’s launch has been limited and likely trending in line or better than our current (and unchanged) forecasts."
For an analyst ratings summary and ratings history on Hi Tech Pharmacal click here. For more ratings news on Hi Tech Pharmacal click here.
Shares of Hi Tech Pharmacal closed at $41.83 yesterday.
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