- Morgan Stanley upgrades Valeant Pharmaceuticals (VRX +1.9%) to Overweight from Equalweight.
- "Only 10% of pro forma 2013 estimated revenue is subject to patent cliffs and no more than 3% of revenue is at risk to generics annually in 2014-2017 estimates," analyst Christopher Caponetti says, adding that VRX is "one of the best positioned specialty pharmaceutical companies to capitalize on industry consolidation." Price target is $145.
- Also bullish is Aegis, where analyst Raghuram Selvaraju lifts the price target on the shares to $160 from $140, noting management's ambitious plan to "ascend to the ranks of the top five pharmaceutical firms in the world by the end of 2016."
- See also: VRX aims to be top-five pharmaceutical company
Sell-side reacts to Valeant chief's ambitious goals
Jan 8 2014, 14:34 ET