Jefferies Boosts Price Target on Salix Pharmaceuticals (SLXP)

Jefferies analysts raised their price target on Salix Pharmaceuticals (NASDAQ: SLXP) from $54.00 to $63.00 while maintaining a BUY rating on the company. They also raised their 2013 EPS estimate from $2.72 to $3.13.

Despite a growing number of bears, Jefferies analysts think the street will have increasing confidence in Salix's ability to execute commercially. They also love SLXP’s earnings CAGR of 34% through 2016.

The new $63 price target reflects a 20x multiple applied to 2013 EPS estimates of $3.13.

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

Shares of Salix Pharmaceuticals closed at $49.60 yesterday.

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