Bank of America lowered shares of Hospira (NYSE: HSP) from a buy rating to a neutral rating in a report released on Wednesday. Bank of America currently has $38.00 target price on the stock, down from their previous target price of $44.00.
“HSP announced ‘13 guidance on its 4Q earnings call, and while management’s revenue and EPS outlook is roughly consistent with ours, we were disappointed by cash flow guidance. In addition, HSP announced that (1) it is in the midst of deciding on its strategy for remediating its pumps business, which creates some new uncertainty (could have implications for costs and potentially for revenue), and (2) the long-awaited FDA re-inspection of the Rocky Mount facility has just begun, and management plans to summarize the results when complete (guidance assumes a “successful” outcome), potentially within a month or two.,” the firm’s analyst commented.
Hospira traded down 3.06% on Wednesday, hitting $29.13. Hospira has a 52-week low of $28.62 and a 52-week high of $38.49. The stock’s 50-day moving average is currently $33.76. The company has a market cap of $4.809 billion and a price-to-earnings ratio of 112.13.
A number of other firms have also recently commented on HSP. Analysts at Zacks downgraded shares of Hospira from a neutral rating to an underperform rating in a research note to investors on Thursday, January 3rd. They now have a $29.00 price target on the stock. Separately, analysts at Morgan Stanley reiterated an equal weight rating on shares of Hospira in a research note to investors on Monday, December 31st.
Two research analysts have rated the stock with a buy rating, ten have assigned a hold rating, and four have assigned a sell rating to the stock. Hospira has a consensus rating of hold and a consensus price target of $30.50.
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