Canaccord Genuity Starts Watson Pharmaceuticals (WPI) at Buy; Solid Pipeline with Near-term Catalysts
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Price: $85.73 --0%
Rating Summary:
14 Buy, 5 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Rating Summary:
14 Buy, 5 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Trade WPI Now!
Canaccord Genuity initiates coverage on Watson Pharmaceuticals (NYSE: WPI) with a Buy. PT $85.00.
Canaccord analyst, Randall Stanicky, said, "While there is clearly less debate here with Watson largely viewed as a “safe” stock given its known robust pipeline, we do think it offers a low risk way to gain exposure to the generic sector. A combination of upside from new launch opportunities, a flurry of high-value shots on goal, and likelihood of accretive deals set the stage for what we think will be further upward revisions to Street 2012-2014 EPS, where we are 5-9% above consensus. Near term, Watson is catalyst-heavy, which should drive momentum with an attractive set-up into Q3/Q4 with likely EPS beats. We initiate at BUY with an $85 target as our top product cycle idea."
For more ratings news on Watson Pharmaceuticals click here and for the rating history of Watson Pharmaceuticals click here.
Shares of Watson Pharmaceuticals closed at $72.10 yesterday, with a 52 week range of $42.17-$73.35.
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Canaccord analyst, Randall Stanicky, said, "While there is clearly less debate here with Watson largely viewed as a “safe” stock given its known robust pipeline, we do think it offers a low risk way to gain exposure to the generic sector. A combination of upside from new launch opportunities, a flurry of high-value shots on goal, and likelihood of accretive deals set the stage for what we think will be further upward revisions to Street 2012-2014 EPS, where we are 5-9% above consensus. Near term, Watson is catalyst-heavy, which should drive momentum with an attractive set-up into Q3/Q4 with likely EPS beats. We initiate at BUY with an $85 target as our top product cycle idea."
For more ratings news on Watson Pharmaceuticals click here and for the rating history of Watson Pharmaceuticals click here.
Shares of Watson Pharmaceuticals closed at $72.10 yesterday, with a 52 week range of $42.17-$73.35.
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