Jefferies Lifts Price Target on and Estiamtes On Forest Laboratories (FRX)

Jefferies raised estiamtes and its price target on Buy-rated Forest Laboratories (NYSE: FRX).

EPS for the current qtr goes from $0.97 to $1.07 and the year from $3.66 to $3.70. The price target goes from $42 to $46.

The firm states, "Forest reported $1.04 for the JunQ (beating consensus by $0.08); we see more of the same. Pipeline progress has been impeccable and their new drug launch acumen should become more appreciated. Most investors are interested in whether Carl Icahn wins the Aug. proxy fight. We don't think so, but also think he won't sell 19M shares if that happens."

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

Shares of Forest Laboratories closed at $38.42 yesterday.

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