Perrigo Co. (PRGO) PT Raised to $70 at Cantor Fitzgerald on Multiple Expansion

Cantor Fitzgerald analyst Louise Chen raised the price target on Perrigo Co. (NYSE: PRGO) to $70.00 (from $60.00) on multiple expansion.

The analyst mainted the Overweight rating stating "We have increased the forward EV/EBITDA multiple in our multiples analysis to 11x from 10x. We have increased the forward EV/EBIT multiple in our DCF analysis to 10x from 9x. We think multiple expansion is deserved given the company's solid execution".

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