UPDATE: Citigroup Upgrades Acorda Therapeutics to Buy on Limited Downside, Catalysts
Citigroup raised its rating on Acorda Therapeutics (NASDAQ: ACOR) from Neutral to Buy and raised its price target from $28 to $33.
Citigroup said, "We expect Ampyra to continue to grow fueled by modest market share gains and price increases. We project a 10% price increase in Q1:13 and 5% annually thereafter as there is still pricing power for the brand. This is overlooked by investors and should drive Ampyra's growth. We see limited downside to the stock as the stock is undervalued based on DCF esp. after its poor performance in 2012."
Acorda Therapeutics closed at $24.86 on Wednesday.
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