Endo Int'l (ENDP): Path To 50% Upside - Guggenheim
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Guggenheim analyst, Louise Chen, reiterated her Buy rating on shares of Endo International plc (NASDAQ: ENDP) noting that shares have given back the gains that the stock made when it announced on 9/23/2016 that Paul Campanelli will replace Rajiv De Silva as CEO (now down 20% vs. -1.5% for the S&P 500), trading back to levels where it was before the announcement.
ENDP has been quiet on any transformative changes, one outcome that the analyst believes could drive shares 50% higher or more is for ENDP to sell the brand business and non-core international assets, pay down debt, and focus on generics. After this, ENDP may do better as a private company given the Street's focus on drug pricing and lack of visibility into Par's generic pipeline in '18+. Interestingly, ENDP said it is focusing on a portfolio review, and therefore will not attend healthcare conferences in 4Q16.
No change to the price target of $35.
Shares of Endo International plc closed at $19.81 yesterday.
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Related EntitiesStandard & Poor's, Louise Chen, Guggenheim
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