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ACET

Aceto

$2.78

-4.625 (-62.50%)

13:25
04/19/18
04/19
13:25
04/19/18
13:25

Craig-Hallum downgrades Aceto to Sell after guidance withdrawn, dividend cut

As previously reported, Craig-Hallum analyst Matt Hewitt downgraded Aceto to Sell from Hold after the company last night announced the resignation of its CFO, suspended FY18 guidance, reported asset impairment charges and said it expects to make a "significant reduction" in its dividend. The suspension of guidance and the cut to the dividend suggest the competitive pressures Aceto has been experiencing in oral solids and APIs have worsened, said Hewitt, who believes the company could raise $150M-$200M to reduce its debt balance if it were to sell off the Performance Chemicals segment. Hewitt, who previously had an $8 price target on the stock, removed the target as he awaits visibility on the company's options to stabilize its business.

ACET Aceto
$2.78

-4.625 (-62.50%)

04/19/18
ADAM
04/19/18
DOWNGRADE
ADAM
Sell
Aceto downgraded to Sell from Buy at Canaccord
04/19/18
ADAM
04/19/18
DOWNGRADE
Target $2
ADAM
Sell
Aceto double downgraded to Sell at Canaccord
As reported previously, Canaccord analyst Dewey Steadman downgraded Aceto two notches, to Sell from Buy, citing a rapid degradation of the company's asset-light business model in the wake of continued pressures for commoditized generics. The company's core human health business has been under significant pressure and has been unable to swiftly adapt to market conditions, said Steadman, who lowered his price target to $2 from $10 on Aceto shares after the company last night said it was suspending further guidance and reducing its dividend.
04/19/18
WELS
04/19/18
NO CHANGE
WELS
Wells says bottom has not been reached in generics pricing
After Aceto (ACET) cited the continued intense competitive and pricing pressures in the generic industry when withdrawing its guidance last night, and Novartis (NVS) this morning reported that net sales at its generic unit Sandoz dropped 4% in the quarter, Wells Fargo analyst Davis Maris says he's not ready to call the bottom in generics pricing. Those that have are premature, Maris tells investors in a research note titled "Negative Read Throughs For Generics Continue." The Aceto and Sandoz pricing news shows the data continue to be negative for U.S. generic industry pricing, the analyst contends. He sees a negative read-through for companies with large U.S. commodity generic exposure, such as Teva (TEVA) and Mylan (MYL).
04/19/18
CHLM
04/19/18
DOWNGRADE
CHLM
Sell
Aceto downgraded to Sell from Hold at Craig-Hallum

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