RBC drops coverage of Intermagnetics

RBC Capital Markets analyst William R. Quirk stopped coverage of Intermagnetics General Corp. following acquisition of the company by Philips for $1.3 billion. The analyst ended coverage with a final rating of underperform with above average risk and a $22 price target. Shares of the Latham, N.Y.-based medical systems company were up $5.60, or 26.19%, at $26.98 on volume of 7,141,868 shares versus the three-month running average of 570,489 shares. (Nasdaq: IMGC)

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