Oppenheimer Upgrade - PLX target price from $9 to $11
Oppenheimer is even more positive about Protalix with a target price of $11 (up from $9), a 60% premium on yesterday's closing price.
Oppenheimer writes, "We believe that last night's approval is an approval for Protalix technology and increases the likelihood of a marketing approval in Europe and Israel in the current year. Thus we recommend buying the share."
Thanks for posting the update, Abe. However, if PFE is successful in its strategy to undercut the competition and PLX's platform shows it has legs, we may quickly see a buyout and a price closer to $28 per share (equivalent to a $2.4B market cap).