UPDATE: Canaccord Genuity Initiates Coverage on Lannett Company with Buy Rating, $7 PT
In a report published Friday, Canaccord Genuity initiated coverage on Lannett Company (NYSE: LCI) with a Buy rating and $7.00 price target.
Canaccord Genuity noted, “We are initiating coverage on Lannett Company (LCI) with a BUY-rating and $7 price target. We see an attractive 3- to 5-year growth story (36% EPS CAGR through 2017E) underpinned by LCI's vertically integrated pain management franchise (narcotics, controlled substances) that is differentiated and high barrier, as well as a robust pipeline with several large product opportunities that can drive P&L upside. LCI's fiscal 1Q results last night provided a solid start to the year and added confidence to fiscal 2013 guidance.”
Lannett Company closed on Thursday at $4.00.
Latest Ratings for LCI
|Sep 2015||Roth Capital||Maintains||Buy|
|Jul 2015||Susquehanna||Initiates Coverage on||Positive|
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.