Lannett Co (LCI) PT Lowered to 'Street Low' $5 at Deutsche Bank
Deutsche Bank analyst Gregg Gilbert lowered the price target on Lannett Co (NYSE: LCI) to a street low $5.00 (from $20.00) while maintaining a Hold rating amid news the contract with Jerome Stevens Pharmaceuticals (JSP) will not be renewed.
"Our new target assumes that the stock can trade at ~9x our C2019E EBITDA excluding contribution from the JSP products, which include LCI’s largest sales contributor levothyroxine (~34% of our F2018E revenue)," Gilbert commented.