Goldman Sachs Raises Price Targets On Specialty Pharmaceutical Stocks On Possible M&A (AGN, MRX, KG)
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Goldman Sachs lifted their price targets on a number of Specialty Pharmaceutical stocks today to incorporate possible future M&A in the sector. The firm sees strategic rationale as most important driver for deals. They said cash flow will be important, but buyout targets are unlikely to command significant premiums.
- Allergan (NYSE: AGN) raises price target from $60 to $62 (20% M&A weighting)
- Cephalon (Nasdaq: CEPH) lowers price target from $70 to $67 (15% M&A weighting)
- Endo (Nasdaq: ENDP) raises price target from $22 to $24 (15% M&A weighting)
- Forest (NYSE: FRX) raises price target from $29 to $30 (5% M&A weighting)
- King (NYSE: KG) raises price target from $11 to $12 (20% M&A weighting)
- Medicis (NYSE: MRX) raises price target from $25 to $26 (20% M&A weighting)
- Sepracor (Nasdaq: SEPR) raises price target from $21.60 to $22 ($23 takeover form Japan's Dainippon)
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