Needham & Company Maintains a 'Hold' on Watson Pharmaceuticals (WPI); Generics Again Carry the Day; Launch Calendar Suggests Continued Short-term EPS Upside

Needham & Company maintains a 'Hold' on Watson Pharmaceuticals (NYSE: WPI).

Needham analyst says, "Despite an undeniable convergence between expectations and reality over the past four quarters, add WPI’s 3Q11 numbers to the victory column as results enabled a resumption of the more familiar beat and raise pattern that has enabled shares to outpace group performance while still sporting a healthy valuation premium relative to peers." (Needham raises FY11 EPS estimate from $4.45 to $4.61 and FY12 from $5.46 to $5.61)

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

Shares of Watson Pharmaceuticals closed at $66.10 yesterday.

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