Cantor Fitzgerald Starts Valeant Pharmaceuticals (VRX) at Buy

March 27, 2014 4:33 PM EDT
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Price: $15.33 -1.92%

Rating Summary:
    10 Buy, 12 Hold, 4 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 0 | Down: 0 | New: 0
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Cantor Fitzgerald initiated coverage on Valeant Pharmaceuticals (NYSE: VRX) with a Buy rating and a price target of $200.00.

Analyst Irina Rivkind Kofflers said, "We found it difficult to poke holes in this business model, which avoids the majority of traditional pharmaceutical risk while uniting the most attractive elements of successful predecessor companies under a single roof. We appreciate Valeant's cash pay verticals (dermatology/aesthetic medicine, ophthalmology, and dental health), diversified portfolio, selective international expansion into areas with high healthcare spending, high operating margins, low tax, and focused management team."

"We also like the company's relatively disciplined and transparent approach to M&A as well as a demonstrated track record of successful deal integration. We therefore expect the business to remain on a healthy double-digit growth trajectory via more tuck-in acquisitions, selective SG&A investment, and continued expense management, and see the stock as undervalued both fundamentally and on a comparables basis," added the analyst.

For an analyst ratings summary and ratings history on Valeant Pharmaceuticals click here. For more ratings news on Valeant Pharmaceuticals click here.

Shares of Valeant Pharmaceuticals closed at $129.07 yesterday.

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