Collins Stewart Reiterates a 'Buy' on Valeant Pharmaceuticals (VRX); Weakness Related To CEPH Is A Good Buying Opportunity

Collins Stewart reiterates a 'Buy' on Valeant Pharmaceuticals (NYSE: VRX), PT $60.

Collins analyst says, "We are reiterating our rating and price target for VRX shares post the withdrawal of its consent solicitation for Cephalon (Nasdaq: CEPH) upon the announcement by Teva (Nasdaq: TEVA) that it will acquire CEPH for $81.50 per share in cash. This is a 12% premium to VRX's unsolicited proposal of $73 per share last month. We believe that VRX will likely acquire a similarly accretive company ($2.00+ per share) near term and therefore our investment thesis remains intact. Given management's proprietary deal network, we do not believe that it will become increasingly difficult for it to find attractive acquisition targets."

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 $52.13 yesterday.

---

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

---

You May Also Be Interested In

• Fiserv (FISV) PT Lowered to $60 at Freedom Broker
• Intuitive Machines Inc. (LUNR) PT Lowered to $32 at Cantor Fitzgerald, Reaffirms Overweight Rating
• Cantor Fitzgerald Reiterates Overweight Rating on Merlin Labs (MRLN)