Deutsche Bank Has Buy On Medicis Pharmaceutical

Deutsche Bank is out with a research report on Medicis Pharmaceutical MRX and it has a Buy rating and a $40 price target on shares. In a note to clients, Deutsche Bank writes, "We recently hosted a day of investor meetings with management. Following these meetings, we maintain our Buy rating and continue to believe that Medicis shares appear attractive (13x our FY12 EPS est) – given our belief that the company is capable of generating 12%+ long-term EPS growth, driven by its medical dermatology business (Solodyn, Ziana, etc.), aesthetics brands (Restylane, Dysport), and an emerging R&D pipeline, potentially augmented by acquisitions." Shares of MRX lost 21 cents yesterday to close at $34.85.