Citi On ENDP 1Q11 EPS

Citi has issued a report regarding the 1Q11 EPS for Endo Pharmaceuticals Holdings ENDP. According to the report, "We Maintained our ‘11E NEWCO (ENDP+AMS) EPS of $4.38 (+26%), Above the Street's $4.29 & ENDP's Reaffirmed $4.20(+21%)-$4.30(+24%) Range (see Fig. 1). We expect ENDP to raise its ‘11E targets when it closes the AMS acquisition by the end of 3Q11. Our model shows a 3Q11 close adding $0.04 in accretion, with an earlier (late 2Q/early 3Q) adding another $0.04." ENDP is Buy rated and has a $48 Price Target. ENDP closed at $41.84 a share yesterday.