Wachovia Downgrades Valeant Pharmaceuticals (VRX) to Underperform; Risk/Reward Unfavorable
More News related to VRX
- Valeant Pharmaceuticals Highlights Taribavirin Phase IIb End of Study Data Presentation at American Association for the Study of Liver Disease (AASLD) Annual Meeting
- Valeant Pharma (VRX) Posts non-GAAP EPS of $0.58; Raises FY09 EPS Guidance
- Valeant Pharmaceuticals Reports Third Quarter Financial Results
- Valeant to Acquire Polish Products
- Valeant Pharmaceuticals to Announce 2009 Third Quarter Results on November 2, 2009
Wachovia downgrades Valeant Pharmaceuticals (NYSE: VRX) to Underperform. Valuation Range: $15 to $17.
Wachovia analyst says, "Three factors for the downgrade: bolt on acquisition strategy is unsustainable, in our opinion, current valuation prices in potential reward for retigabine but not the potential risks, and shares are trading at a significant premium relative to peers...Lowering our 2009 EPS estimate to $1.16 from $1.26 (including amortization). The change reflects the addition of the 8.375% notes, partially offset by 2.5% interest earned on the cash received. We are lowering our 2010 EPS estimate to $1.13 from $1.29 for the same reasons."
To see more analyst ratings on VRX Click Here.
Valeant Pharmaceuticals International is a multi-national specialty pharmaceutical company that develops, manufactures and markets a range of pharmaceutical products.
Related Categories
DowngradesStocks Mentioned
+0.00Related Entities
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!
