Jefferies Maintains a 'Buy' on Valeant Pharmaceuticals (VRX); Analyst Day: Controversial...Yet An Excellent Investment

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Jefferies maintains a 'Buy' on Valeant Pharmaceuticals (NYSE: VRX) price target of $63.00 (from $75.00).

Analyst, Corey Davis, said, "After what we viewed as an excellent analyst day yesterday, VRX remains controversial ... yet an excellent investment -- especially after yesterday's weakness. For a company with >20% exposure in Europe, to actually reaffirm the UPPER end of its EPS guidance is a testament to the strength and durability of its business model. We now lower our PT for a more realistic market."

Raises FY12 EPS Estimate from $4.21 to $4.59, FY13 from $5.00 to $5.22 and FY14 from $5.95 to $5.89.

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 $45.23 yesterday, with a 52 week range of $32.05-$59.94.

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