Jefferies Places Bio-References Labs Under Review
Jefferies has published a research report on Bio-Reference Labs (NASDAQ: BRLI) and has placed the company under review due to increased pressure on shares.
In the report, Jefferies writes, "We expect BRLI shares to see increased pressure after a second short report, published on Thursday afternoon, criticized the company's business practices and the background of certain employees. While we have no reason to believe the company has done or is doing anything inappropriate or unethical, we believe the news will not be well received and could elicit scrutiny from regulators."
Jefferies maintains its $21 price target on Bio-Reference Labs, which is currently trading down $2.02 from yesterday's $16.27 closing price.
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