Morgan Stanley Upgrades Cephalon (CEPH), JMP Downgrades to Market Perform

Shares of Cephalon (Nasdaq: CEPH) are getting one upgrade and one downgrade Wednesday morning following last night's proposed $73 per share bid from Valeant Pharma (NYSE: VRX).

Morgan Stanley raised its investment rating on the stock from Underweight to Equalweight, while an analyst at JMP Securities downgraded CEPH shares from Market Outperform to Market Perform.

The stock is indicated about 31 percent higher than Tuesday's closing price. More importantly, the Street has pushed the price over the $73 per share offer made by Valeant. CEPH shares last traded at $77.30.

Visit our Analyst Ratings page to track all the market-moving upgrades/downgrades on Cephalon shares following the Valeant hostile bid.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Goldman Sachs Downgrades AAC Technologies Holdings Inc. (2018:HK) (AACAY) to Neutral
• Goldman Sachs Downgrades Kuaishou Technology (1024:HK) to Neutral
• HSBC Downgrades Gerdau S.A. (GGBR4:BZ) (GGB) to Hold