In a report published Wednesday, Morgan Stanley analyst David Risinger reiterated an Overweight rating on Valeant Pharmaceuticals Intl Inc VRX, and raised the price target from $175.00 to $183.00.
In the report, Morgan Stanley noted, “We are bumping our PT from $175 to $183, driven by slightly higher EPS estimates. Our target P/E remains 15x '16 EPS.We bumped '16E EPS by 4% from $11.67 to $12.13 following strong guidance last week. Our 5-yr. CAGR ('15-'20) rev projection is 6% and EPS is 11%. Note that we exclude unannounced M&A, so future deals could boost prospects beyond our published projections.”
Valeant Pharmaceuticals closed on Tuesday at $158.04.
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