Questcor price target raised to $85 from $74 at Piper Jaffray !
Questcor price target raised to $85 from $74 at Piper Jaffray
Piper Jaffray raised its price target for Questcor to $85 following the company's better than expected Q3 results and reiterates an Overweight rating on the stock. Piper says it remains positive on the company in the absence of clear evidence that Questcor's promotional practices deviate meaningfully from industry norms.
Merrill Lynch raised their price objective from $80 to $84. They are modeling a fine of $600 million, up from $400 million.
At the end of the day, QCOR is still a cash machine. I really hope they don't have to pay a big fine but I think it is clear the market is overreacting to a potential event that has already been modeled by the analysts.