TD Newcrest Upgrades Valeant Pharmaceuticals (VRX) to Buy; Agressive Acquisition Agenda

TD Newcrest upgraded Valeant Pharmaceuticals (NYSE: VRX) from Hold to Buy. PT increased from $44 to $60.

TD analyst says, "In the wake of the Cephalon (Nasdaq: CEPH) announcement, we are “upgrading” our Valeant outlook to incorporate a substantially higher provision for acquisitions...We are updating our 2012 estimates to include a substantially higher provision for acquisitions. Accordingly, our 2011 revenue estimate is unchanged at $2.4 billion; while our 2012 revenue estimate increases to $3.3 billion, from $2.9 billion. This reflects an organic growth rate of 11%; and an overall growth rate of 39%."

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

Shares of Valeant Pharmaceuticals closed at $50.08 yesterday.

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