Perrigo (PRGO) Cuts Guidance...Again - Jefferies

August 11, 2016 7:53 AM EDT
Get Alerts PRGO Hot Sheet
Price: $83.94 -0.63%

Rating Summary:
    11 Buy, 14 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 21 | Down: 31 | New: 25
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Jefferies analyst, David Steinberg, reiterated his Hold rating on shares of Perrigo Co. (NYSE: PRGO) but cut his price target to $84.00 (from $97.00) after management sharply cut guidance for the 2nd time this year. EPS is now expected to be in the range of $6.85-7.15 vs $8.20-8.60 following the Q1 earnings preannouncement. PRGO’s forecast for 2016 is now down a whopping 28% from initial expectations in Feb. The two culprits once again were Europe & Generics due to further expected price erosion. While the outlook for the CHC business appears to be improving, he trims his PT to $84 (vs $97) and await signs of stabilization.

For an analyst ratings summary and ratings history on Perrigo Co. click here. For more ratings news on Perrigo Co. click here.

Shares of Perrigo Co. closed at $86.00 yesterday.



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