Bank of America Merrill Lynch Raises Watson Pharmaceuticals PT To $74

Bank of America Merrill Lynch raised its Watson Pharmaceuticals WPI price target from $67 to $74 in a research report published today. Bank of America Merrill Lynch has previously given Watson a Neutral rating. In the report, Bank of America Merrill Lynch states, "Based primarily on higher generic Concerta sales estimates, we are raising our 2011/12 EPS estimates and our price objective. We have missed a big run in the shares from a rating standpoint, and we believe management is executing very well, but we don't see enough potential upside from current levels to justify a Buy rating from the current level." Shares of Watson Pharmaceuticals were trading at $68.20 at the time of posting, reflecting no change from Tuesday's market close.