Sell-side cheerleaders in good form following approval of Sarepta's eteplirsen

• Sell-side analysts, never bashful with their pie-in-sky valuation models, are wasting little time jumping on the Sarepta Therapeutics (SRPT +90.3%) bandwagon. Piper Jaffray, William Blair and Janney Montgomery Scott have all upgraded the stock from Neutral to Buy.
• Baird takes the top prize by raising its price target to $102 (91% upside) from $23 based, of course, on many heroic assumptions.
• As always, retail investors should be cautious here.