Jefferies Boosts Numbers on Jazz Pharmaceuticals (JAZZ) Following Deal

Jefferies raised estimates and boosted its price target on Buy-rated Jazz Pharmaceuticals (NASDAQ: JAZZ) from $64 to $74 following the acquisition of EUSA Pharma.

"Just when momentum was fading and the stock languishing, Jazz announced a stellar deal that adds $0.76 to our 2013 EPS, diversifies away from Xyrem reliance, adds oncology as a new therapeutic area, increases geographic reach into Europe (setting up for a potential take-back of EU Xyrem), and causes us to raise our price target from $64 to $75. We elevate Jazz to one of our top picks."

FY12 EPS goes up from $4.11 to $4.41 and FY13 from $4.73 to $5.49.

For an analyst ratings summary and ratings history on Jazz Pharmaceuticals click here. For more ratings news on Jazz Pharmaceuticals click here.

Shares of Jazz Pharmaceuticals closed at $45.20 yesterday.

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