Cantor raises target on Unilife after Novartis deal

|About: Unilife Corporation (UNIS)|By:, SA News Editor

"Novartis now joins Sanofi, Medimmune (AstraZeneca), and Hikma, which have entered into long-term deals," Cantor's Jeremy Feffer says, reiterating a Buy rating on shares of Unilife (UNIS +14%).

Feffer says that although UNIS "is unlikely to finalize the 10-12 agreements management initially expected to sign in 2013 ... the size, scope, and diversity of the deals announced thus far significantly enhance management's credibility."

Price target lifted to $8 from $6.

See also: UNIS strikes supply agreement with Novartis