- Endo Health Solutions (ENDP -2.7%) is lower in morning trading.
- Cantor's Irina Rivkind has cut the shares to Sell from Hold.
- "We have updated our DCF valuation to include only 2014-2020 cash flows, along with the new debt and cash expected post-Paladin deal," Rivkind notes, adding that "the company may be unable to make further significant SG&A cuts beyond 2014 unless it divests AMS, especially as it faces the launches of three new promotionally-sensitive products."
- Price target cut to $43 from $54.
Endo Health falls as Cantor turns bearish
Jan 2 2014, 09:50 ET