RBC upgrades Connetics to outperform

Connetics Corp. was upgraded to outperform from sector perform, speculative risk, by RBC Capital Markets analyst Ken Trbovich on news that the company's stock is oversold, representing an attractive buying opportunity for those willing to ride out uncertainty. Management is less-than-forthcoming in regards to accounting issues and the guidance, cautions the analyst. RBC estimates the equity value of Connetics at $340 million, or about $10 per share. Shares of the Palo Alto, Calif.-based pharmaceutical company were up 23 cents, or 2.96%, at $7.99 on volume of 3,033,472 shares versus the three-month running average of 706,122 shares. (Nasdaq: CNCT)

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