Zacks Investment Research upgraded shares of Hospira Inc (HSP) from UNDERPERFORM to NEUTRAL on May 23, 2013, with a target price of $37.00.
Hospira's first-quarter 2013 adjusted earnings of $0.52 per share were above the year-ago figure by 10.6%.The company expects 2013 adjusted earnings in the range of $2.05 to $2.10 per share. Hospira is going through a rough patch due to the ongoing manufacturing challenges at its Rocky Mountain facility as well as issues with the Symbiq/Plum pumps. Manufacturing issues at the company's other facilities, such as Lake Forest, McPherson, Austin and IKKT, are further challenges for Hospira. We believe all the negatives are already reflected in the stock price and hence revert to a Neutral recommendation on the stock. Our target price is $37.00.
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