Cantor Fitzgerald upgraded Cubist Pharmaceuticals CBST from Sell to Hold and raised the price target from $37.00 to $38.00.
Cantor Fitzgerald commented, "We believe the company is facing several "investment" years that are likely to adversely impact the bottom line and the stock should therefore only move upwards on evidence of stronger than expected Cubicin growth and major data catalysts (and no significant events are expected until 2H:13). We anticipate an initial downward reaction in the stock after the earnings call, but we are upgrading to a HOLD since we think that the negative catalyst around 2013 guidance visibility has now played out."
Cubist Pharmaceuticals closed at $42.75 on Wednesday.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in