Canaccord Genuity Maintains a 'Buy' on Warner Chilcott (WCRX); Timing is Clearly Not Good

Canaccord Genuity maintains a 'Buy' on Warner Chilcott (NASDAQ: WCRX) price target of $18.00.

Analyst, Randall Stanicky, commented on the company's 42.9 million share offering...saying "We would expect focus on timing given the short period from the end of WCRX’s "strategic review" on Aug. 7 which ended in lack of a buyer or transaction – instead WCRX announced (1) a one-time $4.00 "special dividend," (2) a recurring $0.50 dividend (paid semi-annually) and (3) a $250 million buyback."

NOTE - shares are trading down over 9% this morning,

For an analyst ratings summary and ratings history on Warner Chilcott click here. For more ratings news on Warner Chilcott click here.

Shares of Warner Chilcott closed at $14.19 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Keefe, Bruyette & Woods Upgrades Trustmark (TRMK) to Outperform
• Intra-Cellular Therapies (ITCI) PT Raised to $107 at Canaccord Genuity
• Enphase Energy (ENPH) PT Lowered to $130 at Canaccord Genuity