Sell-side reacts to Valeant chief's ambitious goals

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

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