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Fly News Breaks for August 12, 2015
MSLI
Aug 12, 2015 | 07:41 EDT
Cancaccord noted Merus Labs shares were punished following Q3 results as they missed both the firm and consensus estimates. The firm feels the selloff was overdone, as the top-line weakness and adjusted EBITDA was impacted by poor margins for its key drug Sintrom which was pressured by foreign exchange headwinds. Canaccord is projecting better synergies from Sintrom, which should have a positive impact on EBITDA. Canaccord reiterated its Buy rating and maintained its C$4.00 price target on Merus Labs shares.
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