The street upgrades on 4/3 then downgrades on 5/1, and cites fundamentals, yet none have changed???
They had the exact same info on 4/1 that they have today. Other than weakness on pbth merger, absolutely nothing has changed, yet they cite weak EPS. growth??? Now can someone find Wells Fargo initial rating on opk??? I see it listed today as a hold yet they never have surfaced as having an opinion in the past???
This is positive if Wells initiated OPK as a hold, they will go to a buy once their position is BLOATED. The cite I use shows wells going from BUY to hold, however, if they ever had a BUY, EVERY OPK LONG, and Cheerleader would have known.
Gladiator, if I had to pick a reason that would be my guess too. Obviously they looked at the annual and upgraded but now give the same annual as a reason to downgrade? NOW, they might have looked closer at the PBTH deal, saw the weakness in the share price related to uncertainty surrounding the deal, and said hold. Maybe? but then Cramer said he liked the deal.
I for one think we over paid for pbth, by a lot, but what do I know, BPTH are screaming we should have paid 12, I think 3, Frost offered .9951 opk shares, regardless if higher or lower at time of closing.
This is all short term noise anyway, in two years opko will be the darling of Wall Street. Short term however if wall street liked the deal opko would be at 8.50, not 6.50. Short sighted as the deal is good for both, but not for 18 months-to two years.