Mizuho Securities Remains Sidelined Following Endo Int'l's (ENDP) Mixed 4Q Results
Mizuho Securities reiterated a Neutral rating on Endo International plc (NASDAQ: ENDP), and cut the price target to $42.00 (from $55.00), following the company's 4Q earnings report. ENDP reported revenues of $1.07B, in-line with consensus' estimate. EPS was reported at $1.36, ahead of expectations of $1.27. ENDP introduced FY16 revenue guidance of $4.32B- $4.52B, below consensus of $4.67B, and raised EPS guidance from $5.85- $6.15 to $5.85-$6.20.
Analyst Irina Koffle commented, "ENDP sold off after a disappointing 2016 guide and weaker performance in its generics unit, which now represents ~60% of the company. With limited M&A expectations in 2016 and minimal catalyst flow, we see no reason to buy the dip and reiterate our Neutral rating. We lower our PT to $42 from $55."
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Shares of Endo International plc closed at $42.19 yesterday.