RBC Capital Remains Sidelined as Valeant Pharma (VRX) Announces Credit Amendment

August 18, 2016 11:15 AM EDT
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RBC Capital reiterated a Sector Perform rating and $36.00 price target on Valeant Pharmaceuticals (NYSE: VRX) following the company's announcement that is has agreed to amend terms with its lenders. This decision comes on the heels of VRX's Aug 12th announcement that the company would be seeking further credit amendments. The amendment is expected to close next week.

Analyst Douglas Miehm commented, "Valeant announced that it has agreed to amended terms with its lenders following the company's announcement on August 12th that it would be seeking further credit amendments to provide additional headroom on its interest coverage covenant and on asset sales. We view these amendments positively."

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 $30.00 yesterday.

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