sigma , page-7

2354 GMT [Dow Jones] STOCK CALL: Brokers slash share price targets for Sigma Pharmaceuticals (SIP.AU), highlighting ongoing risks in the company after it posted a A$389 million FY net loss. UBS describes result, which included goodwill writedown of A$424.2 million, as "brutal" and cuts its target to 43 cents from 85 cents, adds "not confident that the market has clarity on all issues." Citi cuts target to 47 cents from 95 cents, questions how much control the company had ceded to appease its creditors. "It appears the bankers are now calling the shots," Citi says. Credit Suisse cuts target to 35 cents from 80 cents, casting doubt on the company's forecast it would bounce back to post a A$80 million profit in FY11. Meanwhile, Morgan Stanley upgrades stock to Equal-weight from Underweight but cuts target to 53 cents from 79 cents. Merrill Lynch also raises stock to Buy from Underperform, with new target of 59.5 cents, down from A$1.04. SIP last down 2.2% at A$0.455. ([email protected])