Mizuho Securities Downgrades Valeant Pharmaceuticals (VRX) to Underperform
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Mizuho Securities downgraded Valeant Pharmaceuticals (NYSE: VRX) from Neutral to Underperform with a price target of $11.00 (from $25.00).
Analyst Irina Koffler said, "We believe the risk/reward is unfavorable due to growth challenges, 2017 guidance risk, legal overhangs, and weaker asset divestitures. While we see no impending sell catalyst, we believe this stock will edge lower over the next 6-12 months as investor patience wanes. We downgrade to Underperform from Neutral, and lower our PT to $11 from $25."
Shares of Valeant Pharmaceuticals closed at $17.83 yesterday.
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