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Jefferies Raises PT on Warner Chilcott (WCRX) on 'Blowout' Q4

February 25, 2013 11:20 AM EST Send to a Friend
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Price: $22.93 --0%

Rating Summary:
    6 Buy, 10 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 35 | Down: 23 | New: 13
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Jefferies reiterated its Buy rating and raised its price target on Warner Chilcott (NASDAQ: WCRX) from $15 to $16 following 'blowout' Q4.

"WCRX easily beat estimates for the 4th straight Q but we’re still talking about a melting ice-cube for now, and Q4 did benefit from Asacol stocking that will reverse. Recent ’13 guidance does seem conservative given WCRX likely has more OPEX leverage. We tweak up target to $16 on higher ’14-’15 ests., and maintain a ‘Buy’ given undisclosed pipeline and BD potential, but we’d watch out for franchise leakage in the Delzicol switch."

The firm trimmed FY13 EPS from $3.43 to $3.30 but raised FY14 EPS from $2.49 to $2.87.



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 $13.96 yesterday.




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