UPDATE: Morgan Stanley Reiterates Equal-Weight Rating, Raises PT on Medicis Pharmaceutical

In a report published Wednesday, Morgan Stanley reiterated its Equal-Weight rating on Medicis Pharmaceutical Corp. MRX, and raised its price target from $35.00 to $44.00. Morgan Stanley noted, “We are lowering our 2013E EPS by 18% and trimming long- term (2014E-2020E) EPS by 13% on management's disappointing Sep. 17 proxy projections. Separately, we are raising our price target from $35 to reflect Valeant's $44/share bid.” Medicis Pharmaceutical Corp. closed on Tuesday at $43.25.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
date
ticker
name
Price Target
Upside/Downside
Recommendation
Firm
Posted In: Analyst ColorPrice TargetAnalyst RatingsMorgan Stanley
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!