Without clear visibility of its pipeline, Merrill maintains an "underperform" on Impax!! They do raise their price objective from $17 to $20!!
NeedhamCo sees a pullback is more possible than not due to the lack of fundamental support.
You have to ask what my point is? OK how about: Consider the source. These firms are not infallible. I have often done better by not listening to analyst recommendations.
Sounds sloppy. Did they explain what they think is opaque and if so in what way that differs from any other drug pipeline at a similar stage?
Merrill Lynch. Isn't that the firm that went on a crazy buying spree a few years ago and bought billions and billions a billions of dollars of CDO's? How did that trade turn out?