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CXRX

Concordia

$4.75

0.13 (2.81%)

07:42
10/07/16
10/07
07:42
10/07/16
07:42

Concordia debt issue yields some breathing room, says Canaccord

Canaccord analyst Neil Maruoka noted Concordia priced its $350M of debt at reasonable prices given its increased debt load and the widening of its credit spreads. The analyst said the company can generate sufficient cash to meet its obligations over the next 18 months and the cash infusion should provide sufficient liquidity to manage the timing of payments. Maruoka maintained his Speculative Buy rating and $10.00 price target on Concordia shares.

CXRX Concordia
$4.75

0.13 (2.81%)

08/15/16
MITR
08/15/16
DOWNGRADE
MITR
Hold
Concordia downgraded to Hold from Buy at GMP Securities
09/16/16
ADAM
09/16/16
DOWNGRADE
ADAM
Speculative Buy
Concordia downgraded to Speculative Buy from Buy at Canaccord
09/19/16
SCOT
09/19/16
UPGRADE
SCOT
Sector Perform
Concordia upgraded to Sector Perform from Underperform at Scotiabank
Scotiabank downgraded Concordia to Sector Perform citing increased uncertainty of growth in the UK business.
10/04/16
ADAM
10/04/16
NO CHANGE
Target $10
ADAM
Speculative Buy
Concordia stake sale could lead to multiple expansion, says Canaccord
Canaccord analyst Neil Maruoka noted media reports suggesting Concordia was considering the sale of a minority stake to help ease its debt burden. The analyst said the company's strategic review is ongoing and said recent management commentary suggests some form of transaction is being considered. Maruoka believes a reduction in the company's debt service could open the opportunity for multiple expansion. Maruoka reiterated his Speculative Buy rating and $10 price target on Concordia shares.

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