Barclays Maintains an 'Overweight' on Watson Pharmaceuticals (WPI); Waiting for Lidoderm Ends
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Price: $85.73 --0%
Rating Summary:
14 Buy, 5 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 24 | New: 24
Rating Summary:
14 Buy, 5 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 24 | New: 24
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Barclays maintains an 'Overweight' on Watson Pharmaceuticals (NYSE: WPI) price target of $80.00.
Analyst, Douglas D. Tsao, said, "We are raising our EPS estimates for WPI to reflect the company's successful monetization of its pursuit of introducing a generic version of Lidoderm. Watson continues to demonstrate an ability to deliver certainty in situations that are complex. In this case, while we were confident in WPI's success versus ENDP in the first set of patent litigation as well as the likelihood of regulatory approval, there was still some residual risk to both these points as well as a second set of patent litigation."
Tsao sees this deal as an important milestone for WPI in acheiving double-digit earnings target for 2013 and feels the underlying business has been overlooked (from the Actavis transaction). (FY13 EPS estimate raised from $5.84 to $6.26)
For an analyst ratings summary and ratings history on Watson Pharmaceuticals click here. For more ratings news on Watson Pharmaceuticals click here.
Shares of Watson Pharmaceuticals closed at $73.70 yesterday, with a 52 week range of $55.00-$77.73.
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Analyst, Douglas D. Tsao, said, "We are raising our EPS estimates for WPI to reflect the company's successful monetization of its pursuit of introducing a generic version of Lidoderm. Watson continues to demonstrate an ability to deliver certainty in situations that are complex. In this case, while we were confident in WPI's success versus ENDP in the first set of patent litigation as well as the likelihood of regulatory approval, there was still some residual risk to both these points as well as a second set of patent litigation."
Tsao sees this deal as an important milestone for WPI in acheiving double-digit earnings target for 2013 and feels the underlying business has been overlooked (from the Actavis transaction). (FY13 EPS estimate raised from $5.84 to $6.26)
For an analyst ratings summary and ratings history on Watson Pharmaceuticals click here. For more ratings news on Watson Pharmaceuticals click here.
Shares of Watson Pharmaceuticals closed at $73.70 yesterday, with a 52 week range of $55.00-$77.73.
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