Endo Pharmaceuticals (ENDP) New CEO Is the Real Deal - Jefferies

Jefferies reiterated a Buy rating and boosted its price target on Endo Pharmaceuticals Holdings Inc (NASDAQ: ENDP) from $37 to $45 after CEO Rajiv DeSilva made his 1st public appearance at Jefferies conference Thursday.

Corey Davis comments, "Despite <4 months as CEO, Mr. DeSilva showed an impressive grasp of the business and inspired confidence in his new model: 1) M&A will be a clear focus, 2) the decentralized 'lean pharma' model is gaining credibility, & 3) a worst-case scenario now yields $3.58 EPS as a trough in 2014 before growth after ’15."

While the price target was raised, estimates were trimmed. FY 2013 EPS estimate goes from $4.18 to $4.10 and FY 2014 EPS estimate goes from $3.91 to $3.58.

For an analyst ratings summary and ratings history on Endo Pharmaceuticals Holdings Inc click here. For more ratings news on Endo Pharmaceuticals Holdings Inc click here.

Shares of Endo Pharmaceuticals Holdings Inc closed at $37.49 yesterday.

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