deutsche upgrades sip to buy

From this morning's AFR Broker Watch (9/6/2011):

http://afr.com/p/markets/sigma_pharmaceuticals_sip_nAB16HnA1MPQJJ4qSenv0O

Deutsche Bank has raised its recommendation on SIP from hold to buy after yesterday's improved earnings guidance announced by the company.

Execs of SIP told the AGM-goers that earnings for the 2012 financial year are likely to be $9m-$12m higher than expected.

The upgrade is partly to do with increased market share and lowercosts. SIP is also in the process of bidding for the business of Pharmacy Alliance, which is a potential big upside, as it could boost earnings by as much as 10% on a full year basis.

There are some potential constraints, including the loss of Pfizer, but Deutsche Bank remains hopeful, and has increased its 12-month price target from 50c to 53c.
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Yep, that's 53c. Onya Deutsche.