Canaccord Genuity Maintains a 'Buy' on Valeant Pharmaceuticals (VRX); Q1 Results: Delivering on Synergies

Canaccord Genuity maintains a 'Buy' on Valeant Pharmaceuticals (NYSE: VRX), PT $58.

Canaccord analyst says, "Our focus going into the quarter was Valeant’s ability to execute on promised synergies within the Biovail merger. In Q1, the company delivered in spades, confirming our view of management’s capabilities in integrating acquisitions. Investor attention will now return to the M&A strategy. Valeant left all possibilities open in its strategic update; however, we believe that the company is more likely to complete mid-sized acquisitions than pursue transactions on the scale of Cephalon."

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

Shares of Valeant Pharmaceuticals closed at $51.88 yesterday.

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