Soleil Securities Maintains a 'Buy' on Cephalon (CEPH); Bid Likely to be Near-Term High

Soleil Securities maintains a 'Buy' on Cephalon (NASDAQ: CEPH), PT $78.

Soleil analyst says, "Yesterday, after the close, Valeant (NYSE: VRX) (Not Rated) announced that it was making a hostile bid for CEPH for $73/share, representing $5.7bln in value, a 29% premium to yesterday's close, and an all debt-financing...CEPH remains a highly concentrated amongst its top holders, with the top 7 (Wellington, Fidelity, T.Rowe Price, Vanguard, LSV, Blackrock, and State Street) holding more than 50%. While none of these holders would generally be considered activists in eliciting change, we do not believe that VRX would have taken the brazen step of releasing the details of its hostile bid if it did not at least have the support of some of these top holders."

For more ratings news on Cephalon click here and for the rating history of Cephalon click here.

Shares of Cephalon closed at $58.75 yesterday.

---

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

---

You May Also Be Interested In

• Kepler Cheuvreux Upgrades Entain PLC (ENT:LN) (GMVHF) to Buy
• Oddity Tech Ltd (ODD) PT Raised to $16 at Truist Securities
• Edison International (EIX) PT Lowered to $63 at UBS