Jefferies Reiterates Buy on Endo Pharmaceuticals (ENDP) on Restructuring News

Jefferies reiterated a Buy rating and $37 price target on Endo Pharmaceuticals Holdings Inc (NASDAQ: ENDP) after the company announced a major restructuring Wednesday evening.

Analyst Corey Davis the news comes ahead of schedule and the magnitude of the cost savings were even better than they had hoped - $325M in OpEx reduction by mid 2014.

The analyst notes CEO DeSilva will be attending the Jefferies Healthcare conference today to further explain his vision for new Endo.

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 $35.96 yesterday.

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