more insto sell recommendations

Below are 2 sell reco's on SIP from thebull.com.au

Sigma Pharmaceuticals (SIP)

Sigma recently reported a full-year loss of $389 million for the 12 months to January 31, 2010. It included write-downs of $424 million in goodwill and a decline in underlying profit of 15.5 per cent to $67.7 million. Sales revenues, however, increased by 4.5 per cent to $3.22 billion, but market pressures in generic pharmaceuticals hurt margins. No final dividend will be payable. We believe there are better opportunities elsewhere.-Richard Batt, Shadforth Financial Group


Sigma Pharmaceuticals (SIP)

We have downgraded the pharmaceuticals maker to underperform (from neutral). We expect it to do a capital raising (with a large discount), which will go a long way to placating the banks. At the same time, a capital raising would provide some much-needed breathing space, particularly if operations deteriorate in response to stiff competition, or it finds it difficult to sell non-core assets, or the Government contemplates further funding cuts.
-Sean Conlan, Macquarie Private Wealth


http://thebull.com.au/articles_detail.php?id=10692

DYOR!
caveat emptor