Sterne Agee Maintains Buy, $7 PT on Albany Molecular Research

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Sterne Agee reiterates its Buy rating and $7 price target on Albany Molecular Research, Inc. (NASDAQ: AMRI) as the current valuation discounts a $200MM business. Sterne Agee says, “In our view, AMRI's current valuation solely reflects the net present value of future Allegra royalties, which we calculate to be $59MM, or $1.94 per share. AMRI's core contract services business is on tap to generate ~$172MM of revenues this year and we believe CS revenues will approach $200MM next year.”AMRI closed at $2.34 per share on Friday.

27% profits every 20 days?

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