Valeant (VRX) PT Cut to $106 at Jefferies

Jefferies analyst David Steinberg lowered his price target on Valeant Pharmaceuticals (NYSE: VRX) to $106.00 (from $172.00) while maintaining a Buy rating.

Steinberg commented, "With the return of CEO Mike Pearson, a critical issue has been addressed. However, a host of equally critical questions have emerged. Most notably, VRX withdrew its guidance and a new external investigation has opened. As such, almost unbelievably, there are yet even more questions than answers. We look at some of them and contrasting interpretations (details). And based on significant sector multiple compression and co specific issues, we lower our PT to $106."

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

Shares of Valeant Pharmaceuticals closed at $65.80 yesterday.

You May Also Be Interested In

• Freedom Broker Downgrades Karooooo Ltd. (KARO) to Hold
• Clariant AG (CLN:SW) (CLZNY) PT Lowered to CHF8 at Bernstein SocGen Group
• UnitedHealth Group (UNH) PT Raised to $490 at UBS