UPDATE: Bank of America Cuts PO to $17 on Impax Laboratories on Persisting FDA Issues

Bank of America maintained Impax Laboratories (NASDAQ: IPXL ) with an Underperform rating and lowered the price objective from $20.00 to $17.00. Bank of America noted, "IPXL announced that an FDA re-inspection of its Hayward, CA facility resulted in a new Form 483 with 12 observations (three repeats). Recall that