Valeant's (VRX) CFO Hire Seen as Positive at Deutsche Bank
- Stock futures rise as flurry of deal activity boosts confidence
- AT&T (T) to Acquire Time Warner (TWX) for $107.50/Share
- Rockwell Collins (COL) to Acquire B/E Aerospace (BEAV) for $6.4B
- TD Ameritrade (AMTD) to Acquire Scottrade in $4B Cash & Stock Deal
- Oil prices fall as Iraq resists joining output cut
Find out which companies are about to raise their dividend well before the news hits the Street with StreetInsider.com's Dividend Insider Elite. Sign-up for a FREE trial here.
Deutsche Bank analyst Gregg Gilbert commented on Valeant Pharma (NYSE: VRX) after the company announced that Paul S. Herendeen will take over the role of CFO. In the analyst's view, the hire is a key positive for Valeant.
"... we see the hiring of Mr. Herendeen as a notable development; after several years of interaction, we view him as a highly capable financial leader that has helped create value in some complicated and risky situations. Based on our view of Mr. Herendeen as a detail oriented, conservative individual, we believe he would not likely have accepted this position without having done significant diligence," said Gilbert.
"We also view him as someone that is focused on creating shareholder value over the long term, and would expect his compensation structure to be consistent with that theme," added the analyst.
Valeant is Not Rated at Deutsche Bank.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Deutsche Bank Downgrades Brown & Brown (BRO) to Hold
- Deutsche Bank Upgrades Consolidated Edison (ED) to Hold
- Intercept Pharmaceuticals (ICPT) PT Lowered to $200 at Oppenheimer, Keeps 'Outperform'
Create E-mail Alert Related CategoriesAnalyst Comments
Related EntitiesDeutsche Bank
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!