Canaccord Genuity Maintains a 'Buy' on Valeant Pharmaceuticals (VRX); Withdraws Bid After Teva Makes Better Offer for Cephalon
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Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
0 Buy, 0 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Canaccord Genuity maintains a 'Buy' on Valeant Pharmaceuticals (NYSE: VRX), raises PT to $54.
Canaccord analyst says, "Teva Pharmaceutical’s (Nasdaq: TEVA) $6.8 billion offer for Cephalon (Nasdaq: CEPH) has trumped Valeant’s hostile bid, and Valeant has subsequently withdrawn from the process. While Valeant must now move on to other opportunities, we believe that the company will remain disciplined in its approach to M&A. The question now is, what do we look forward to for Valeant? We believe that the US approval and global launch of potential blockbuster Potiga will be a catalyst. Additionally, we expect that the company will continue on the track to other acquisitions; however, we expect that these will likely be smaller in size compared to Cephalon."
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 $49.58 yesterday.
Canaccord analyst says, "Teva Pharmaceutical’s (Nasdaq: TEVA) $6.8 billion offer for Cephalon (Nasdaq: CEPH) has trumped Valeant’s hostile bid, and Valeant has subsequently withdrawn from the process. While Valeant must now move on to other opportunities, we believe that the company will remain disciplined in its approach to M&A. The question now is, what do we look forward to for Valeant? We believe that the US approval and global launch of potential blockbuster Potiga will be a catalyst. Additionally, we expect that the company will continue on the track to other acquisitions; however, we expect that these will likely be smaller in size compared to Cephalon."
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 $49.58 yesterday.
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