Zacks initiated coverage with a hold rating and a target of $3.25....that was on April 21st 2015. On April 21st the PPS closed at $2.63...Of course I assume they didn't write and publish the report all on the same day, and the PPS had hit $3 just a few days previously on April 14th.

So in that light the hold rating makes some sense, as when the report was being written RVX was already trading close to the target price.

Contrast that with the current price around $1.50 - $1.60.....upping RVX to a buy makes a lot of sense given the appreciation those buying would see if we get close to the target price again.

And one last note....I'm assuming the $3.25 target is CDN dollars....the only reference to currency is CDN where the report mentions potential future dilution to cover the cost of retiring debt:

We are also assuming that the company will issue shares to pay off the CDN $68.8 million in debt due August 28, 2017. We are using the current stock price of $2.35, less 10% discount, to calculate that it would take approximately 32.5 million in new shares required to pay off the existing debt. The current fully diluted share count is 100.9 million. Thus, we are using an adjusted share count of 133.4 million in our valuation model.

The more current report mentions CDN dollars with respect to the $2.67 price in the financing deals with Eastern and Hepa.