Goldman Sach Cuts Price Target on Medicis (MRX)

Goldman Sachs maintained a Buy rating on Medicis (NYSE: MRX) but lowered their price target to $42.00 (from $45.00) due to higher execution risk.

"We expect some pressure on the shares given increased execution risk, but maintain our Buy rating with the view that the overall growth story is still intact and the shares already reflected some of these concerns. We also see support from significant cash flow generation, a strong balance sheet, and meaningful M&A potential," said analyst Gregory Waterman.

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 $33.31 yesterday.

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