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Fly News Breaks for May 28, 2015
AKRX
May 28, 2015 | 06:45 EDT
JPMorgan views Akorn's gross-to-net accounting errors as fixable and thinks they will not impact the company's longer-term, go-forward earnings power. The firm believes the risk/reward on the stock is compelling into the financial restatements. It sees 15%-plus upside on positive remediation with downside support from potential M&A. JPMorgan reiterates an Overweight rating on Akorn with a $58 price target.
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