Canaccord Genuity Generic Sector Revisit - Focus on Path Ahead of Several Near-term Catalysts
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Price: $36.81 -1.76%
Rating Summary:
17 Buy, 22 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 15 | New: 40
Rating Summary:
17 Buy, 22 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 15 | New: 40
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Canaccord Genuity on Life Sciences/Specialty Pharmaceuticals: Generic Sector Revisit - focus on path ahead of several near-term catalysts
Analyst, Randall Stanicky, said, "We are revisiting our views on Teva (Nasdaq: TEVA), Watson Pharma (NYSE: WPI) and Mylan (NYSE: MYL), both short- and longer-term, following recent intra sector volatility and ahead of 2012 updates for all three."
TEVA (BUY) – most attractive near-term path where our message remains the same: We see most near-term upside in TEVA and are modestly raising Q4 and 2012 to reflect the Ranbaxy Gx Lipitor deal...No change to $52 price target with potential near-term leg up.
WPI (BUY) – oversold on recent weakness, creating an opportunity to “re-load”: In the aftermath of the “sell on the news” Gx Lipitor weakness and permeating investor concerns around PROCHIEVE, WPI shares offer an attractive entry point...No change to our $85 target with view to 12 months.
MYL (HOLD) – we are not buyers of recent rally, visibility post 2012 is still key: Shares have seen recent strength as sell- and buy-side sentiment has improved ahead of the upcoming February analyst meeting and guidance introduction...No change to our $23 price target.
Analyst, Randall Stanicky, said, "We are revisiting our views on Teva (Nasdaq: TEVA), Watson Pharma (NYSE: WPI) and Mylan (NYSE: MYL), both short- and longer-term, following recent intra sector volatility and ahead of 2012 updates for all three."
TEVA (BUY) – most attractive near-term path where our message remains the same: We see most near-term upside in TEVA and are modestly raising Q4 and 2012 to reflect the Ranbaxy Gx Lipitor deal...No change to $52 price target with potential near-term leg up.
WPI (BUY) – oversold on recent weakness, creating an opportunity to “re-load”: In the aftermath of the “sell on the news” Gx Lipitor weakness and permeating investor concerns around PROCHIEVE, WPI shares offer an attractive entry point...No change to our $85 target with view to 12 months.
MYL (HOLD) – we are not buyers of recent rally, visibility post 2012 is still key: Shares have seen recent strength as sell- and buy-side sentiment has improved ahead of the upcoming February analyst meeting and guidance introduction...No change to our $23 price target.
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