Goldman Sachs Resumes Coverage on Valeant Pharmaceuticals (VRX) at Neutral; Upside Tied to Relief of Organic Growth Concerns

Goldman Sachs resumes coverage on Valeant Pharmaceuticals (NYSE: VRX) with a Neutral. PT $48.00.

Analyst, Gregory Waterman, said, "Since mid-2011 Valeant shares have underperformed the market, a distinct inflection relative to the preceding three and a half years, in which the stock produced annualized returns over 80%. In our view, the key change was concern about organic growth rates and earnings quality, and it likely did not help that recent acquisitions have been more incremental than transformational, even though the overall volume of deals has been high."

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

Shares of Valeant Pharmaceuticals closed at $45.03 yesterday.

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