Citigroup Upgrades Shire Pharmaceuticals (SHPGY) to Buy 04-24-2007 09:51:43 AM More Upgrades
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Citigroup upgrades Shire Pharmaceuticals (Nasdaq: SHPGY) from Hold to Buy. Price target increased from $71 to $83.
Citigroup analyst says, "Q1 results poised to beat consensus expectations - From our analysis of prescription and pricing trends we believe Q1 results (Wednesday 25 April) will beat consensus expectations and give the market confidence Shire is executing on its multiple product launches. In particular, we expect Adderall XR and Elaprase to comfortably exceed consensus at $233m and $24m, respectively (CIR $240m and $30m). We upgrade our 2007 and 2008 'cash' EPS forecasts by 5% and 3%, respectively."
Maybe they will get it right this time eh? After being so wrong so long. Citigroup(smith barney) have had a hold rating on this stock since it was below 30.. Now when it is over 70 they love the stock?