UPDATE: Imperial Capital Downgrades Schiff Nutrition International to In-Line Post Acquisition

Imperial Capital reduced its rating on Schiff Nutrition International SHF from Outperform to In-Line but raised its price target from $34 to $27. Imperial Capital commented, "Schiff Nutrition announced a merger agreement (10/30/12) to be acquired by Bayer HealthCare LLC for approximately $1.2bn in cash ($34 per share). We are increasing our price target to $34 from $27 and downgrading our rating to In-Line from Outperform based on this announcement and the expectation that shares of SHF will no longer trade on fundamentals, but rather trade at or around the acquisition price." Schiff Nutrition International closed at $33.84 on Wednesday.