Leerink Swann maintains a 'Market Perform' on Watson Pharmaceuticals (WPI); Previewing 3Q: We Expect a Meet & Raise Quarter
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Price: $85.73 --0%
Rating Summary:
14 Buy, 5 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 12 | New: 30
Rating Summary:
14 Buy, 5 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 12 | New: 30
Trade WPI Now!
Leerink Swann maintains a 'Market Perform' on Watson Pharmaceuticals (NYSE: WPI) price target range of $66-$67.
Leerink analyst says, "Based on our pre 3Q analysis, we are increasing our 3Q EPS est to $1.03 (from $1.01) on the basis of good prescription trends; we are $0.02 above WPI guidance but $0.01 below consensus. We have kept our FY:11E EPS unchanged at $4.52 (we tweaked down our 4Q gross margin on Lipitor) and our out-year ests remain unchanged. In 3Q, WPI benefitted from the lack of competitor entry in at-risk categories such as generic oral contraceptives and some of its extended release products (Toprol and Micro-K). We reduced our 3Q sales ests for the distribution segment by $20M due to the lack of major generic launches. Relative to FY:11 guidance, we expect WPI to increase its EPS guidance range of $4.25-4.50 by 5c to 10c to account for pipeline progress not previously factored into guidance For more ratings news on Watson Pharmaceuticals."
click here and for the rating history of Watson Pharmaceuticals click here.
Shares of Watson Pharmaceuticals closed at $68.25 yesterday, with a 52 week range of $42.17-$73.35.
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Leerink analyst says, "Based on our pre 3Q analysis, we are increasing our 3Q EPS est to $1.03 (from $1.01) on the basis of good prescription trends; we are $0.02 above WPI guidance but $0.01 below consensus. We have kept our FY:11E EPS unchanged at $4.52 (we tweaked down our 4Q gross margin on Lipitor) and our out-year ests remain unchanged. In 3Q, WPI benefitted from the lack of competitor entry in at-risk categories such as generic oral contraceptives and some of its extended release products (Toprol and Micro-K). We reduced our 3Q sales ests for the distribution segment by $20M due to the lack of major generic launches. Relative to FY:11 guidance, we expect WPI to increase its EPS guidance range of $4.25-4.50 by 5c to 10c to account for pipeline progress not previously factored into guidance For more ratings news on Watson Pharmaceuticals."
click here and for the rating history of Watson Pharmaceuticals click here.
Shares of Watson Pharmaceuticals closed at $68.25 yesterday, with a 52 week range of $42.17-$73.35.
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