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UPDATE: Canaccord Genuity Downgrades MAP Pharmaceuticals to Hold Following Takeover

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UPDATE: Wedbush Downgrades MAP Pharmaceuticals to Neutral, Reiterates $25 PT on Likely Acquisition
2013: Year of the Mega Deal

Canaccord Genuity downgraded MAP Pharmaceuticals (NASDAQ: MAPP) from Buy to Hold and raised the price target from $23.00 to $25.00.

Canaccord Genuity commented, "Post yesterday's announcement of Allergan's (AGN) intention to acquire Map Pharmaceuticals (MAPP) and subsequent conference call we're downgrading MAPP from Buy to HOLD and raising our price target to $25, in line with the deal price. The stock was +59% today, closing modestly below the announced acquisition price, and we expect a successful closing in March. We like the fit with AGN, and post call and follow-up we haven't heard anything that changes our view."

MAP Pharmaceuticals closed at $24.71 on Wednesday.

Latest Ratings for MAPP

DateFirmActionFromTo
Mar 2013WedbushDowngradesOutperformNeutral
Feb 2013Ladenburg ThalmannDowngradesBuyNeutral
Jan 2013Deutsche BankDowngradesBuyHold

View More Analyst Ratings for MAPP
View the Latest Analyst Ratings

Posted-In: Canaccord GenuityAnalyst Color Downgrades Pre-Market Outlook Analyst Ratings

 

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