Duncan Williams Downgrades Endo Pharmaceuticals (ENDP) to Buy; Still Undervalued But Less Exciting
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Price: $0.29 --0%
Rating Summary:
14 Buy, 15 Hold, 5 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
14 Buy, 15 Hold, 5 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Duncan Williams downgraded Endo Pharmaceuticals (NASDAQ: ENDP) from Strong Buy to Buy. PT $51.
Duncan analyst says, "The quarter was tarnished by higher gross margins and Lidoderm rebates...Less momentum, but still an attractive value play...We maintain our investment thesis: (1) We like the diversification, stability, and
efficiency of Endo’s business model, (2) On the drug pipeline, we have given Endo credit for Opana TRF (and a switch strategy), and the Octreotide implant (now pushed out), (3) We still assume generic entry for Lidoderm in 4Q14, one year prior to patent expiration; (4) We appreciate Endo’s strong operating cash flows and expect M&A associated debt to be mostly repaid by 2015, and (5) execution has been solid across R&D, commercial, and regulatory fronts."
For more ratings news on Endo Pharmaceuticals click here and for the rating history of Endo Pharmaceuticals click here.
Shares of Endo Pharmaceuticals closed at $41.84 yesterday.
Duncan analyst says, "The quarter was tarnished by higher gross margins and Lidoderm rebates...Less momentum, but still an attractive value play...We maintain our investment thesis: (1) We like the diversification, stability, and
efficiency of Endo’s business model, (2) On the drug pipeline, we have given Endo credit for Opana TRF (and a switch strategy), and the Octreotide implant (now pushed out), (3) We still assume generic entry for Lidoderm in 4Q14, one year prior to patent expiration; (4) We appreciate Endo’s strong operating cash flows and expect M&A associated debt to be mostly repaid by 2015, and (5) execution has been solid across R&D, commercial, and regulatory fronts."
For more ratings news on Endo Pharmaceuticals click here and for the rating history of Endo Pharmaceuticals click here.
Shares of Endo Pharmaceuticals closed at $41.84 yesterday.
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