Goldman Sachs Upgrades Medicis (MRX) to Buy, Focused on Growth
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Price: $69.59 -0.85%
Rating Summary:
10 Buy, 11 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 15 | New: 40
Rating Summary:
10 Buy, 11 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 15 | New: 40
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Goldman Sachs upgraded Medicis (NYSE: MRX) from Neutral to Buy with a price target of $43 (up from $41).
After many years of playing defense, Medicis has mitigated key downside risks, which now allows it focus on growth drivers.
"We see risk skewed meaningfully to the upside as the company leverages its established position in dermatology, strength in sales and marketing, and innovations in patient access to re-launch Zyclara and drive growth in key established franchises," the analyst commented.
The firm raised FY12 EPS from $2.73 to $2.75, FY13 from $3.10 to $3.31 and FY14 from $3.24 to $3.47.
For an analyst ratings summary and ratings history on Medicis click here. For more ratings news on Medicis click here.
Shares of Medicis closed at $35.52 yesterday.
After many years of playing defense, Medicis has mitigated key downside risks, which now allows it focus on growth drivers.
"We see risk skewed meaningfully to the upside as the company leverages its established position in dermatology, strength in sales and marketing, and innovations in patient access to re-launch Zyclara and drive growth in key established franchises," the analyst commented.
The firm raised FY12 EPS from $2.73 to $2.75, FY13 from $3.10 to $3.31 and FY14 from $3.24 to $3.47.
For an analyst ratings summary and ratings history on Medicis click here. For more ratings news on Medicis click here.
Shares of Medicis closed at $35.52 yesterday.
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