Cantor Fitzgerald Maintains a 'Buy' on Warner Chilcott (WCRX); Let's Make It Official
Tweet
Share
E-mailGet Alerts WCRX Hot Sheet
Price: $22.93 --0%
Rating Summary:
4 Buy, 8 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 8 | New: 13
Rating Summary:
4 Buy, 8 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 8 | New: 13
Join SI Premium – FREE
Cantor Fitzgerald maintains a 'Buy' on Warner Chilcott (NASDAQ: WCRX) price target raised from $22 to $26.
Analyst, Irina Rivkind, said, "The announcement indicating that management has retained an investment bank to evaluate its options clearly comes after the company spent over a year searching for acquisition targets. Management has previously publicly stated that it has also contemplated the divestiture of its Actonel franchise. We therefore think that management has been reviewing its options for some time and has a sober view of its risks and opportunities. With this "process" announcement, management is knowingly disrupting operations in the field and in its headquarters. We therefore believe that the company is fairly progressed in its thinking. If management wanted to issue a special dividend to its shareholders, we think that the company could have quietly done so on its own (like in 2010), which would have been far less disruptive to the business."
Rivkind sees Bayer (OTC: BAYRY), Teva (Nasdaq: TEVA), Watson (NYSE: WPI), J&J (NYSE: JNJ) or Endo (Nasdaq: ENDP) as potential buyers of WCRX's Women's Health business.
Asacol may be considered by AstraZeneca (NYSE: AZN) Takeda, or Forest Labs (NYSE: FRX).
Cantor lowers FY12 EPS estimate from $3.66 to $3.60 and FY13 from $3.27 to $3.11.
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 $21.81 yesterday.
Analyst, Irina Rivkind, said, "The announcement indicating that management has retained an investment bank to evaluate its options clearly comes after the company spent over a year searching for acquisition targets. Management has previously publicly stated that it has also contemplated the divestiture of its Actonel franchise. We therefore think that management has been reviewing its options for some time and has a sober view of its risks and opportunities. With this "process" announcement, management is knowingly disrupting operations in the field and in its headquarters. We therefore believe that the company is fairly progressed in its thinking. If management wanted to issue a special dividend to its shareholders, we think that the company could have quietly done so on its own (like in 2010), which would have been far less disruptive to the business."
Rivkind sees Bayer (OTC: BAYRY), Teva (Nasdaq: TEVA), Watson (NYSE: WPI), J&J (NYSE: JNJ) or Endo (Nasdaq: ENDP) as potential buyers of WCRX's Women's Health business.
Asacol may be considered by AstraZeneca (NYSE: AZN) Takeda, or Forest Labs (NYSE: FRX).
Cantor lowers FY12 EPS estimate from $3.66 to $3.60 and FY13 from $3.27 to $3.11.
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 $21.81 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Faraday Technology Corp (3035:TT) PT Lowered to NT$400 at HSBC
- NetEase.com (NTES) PT Lowered to $126 at HSBC
- The Blackstone Group (BX) PT Raised to $135 at Argus
Create E-mail Alert Related Categories
Analyst Comments, Analyst PT Change, Trader TalkRelated Entities
Cantor Fitzgerald, DividendSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
