Akorn (AKRX) PT Lifted to $60 at Guggenheim

Guggenheim analyst Louise Chen reiterated a Buy rating and lifted her price target on Akorn (NASDAQ: AKRX) to $60.00 (from $50.00), saying she expects earnings revision to drive the stock higher.

Chen commented, "Post 4Q14 we continue to believe AKRX is well positioned for a strong '15 with potential upward earnings revisions being driven by the first full-year benefit from acquisitions and new launches in 2H14, disclosed and undisclosed '15 launches, and M&A deals. Therefore, post 4Q14 we are raising our PT for AKRX shares to $60 from $50. The increase in our PT is driven by upward earnings revisions. We continue to believe that AKRX will become a leading and differentiated generics company."

For an analyst ratings summary and ratings history on Akorn click here. For more ratings news on Akorn click here.

Shares of Akorn closed at $46.40 yesterday.

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