Jefferies Maintains a 'Buy/Top Pick' on Valeant Pharmaceuticals (VRX); Taking the Right Medic(is)ine

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Jefferies maintains a 'Buy' on Valeant Pharmaceuticals (NYSE: VRX) price target of $77.00 (from $63.00).

Analyst, Corey Davis, said, "Following-up from Tuesday's note re: the Medicis (NYSE: MRX) acquisition, we publish proforma VRX estimates and raise our price target to $77. MRX fits VRX like a glove, perfectly complementing the Derm biz (little/no product overlap yet copious synergy). The deal is highly accretive, bolsters sustainable organic growth, and cements VRX as a US Derm powerhouse and more relevant US Spec Pharma player overall. VRX is our #1 pick."

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 $60.19 yesterday, with a 52 week range of $32.05-$60.25.

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