Hikma soars after bullish recommendation from brokers

5th Jan 2015 10:14

Hikma Pharmaceuticals shares edged closer to an all-time high on Monday, in the wake of bullish recommendation from two brokers.The stock, which rose 66.8% in 2014, was among Europe's best performing small-cap after JP Morgan lifted its price target on Hikma shares by 18.4% and maintained an 'overweight' rating.Meanwhile, Jefferies upgraded the stock to a 'buy' saying it forecast momentum to continue into 2015 and that it expects the group to prevail in its ongoing legal case against Takeda over the group's respective gout treatment drugs.Hikma shares rose 5.98% to 2,094.50p at 10:11 on Monday.