Deutsche Bank Raises VRX Target From $30 To $38

Deutsche Bank is increasing its PT on Valeant Pharmaceutical VRX from $30 to $38. “[This is] based on 14x (in-line with peer group) our 2012 new EPS est,” Deutsche Bank writes. “Primary risks to our thesis and price objective are 1) successful integration of the BVF merger and realization of proposed synergies and 2) maintenance of Rx trends for key products.” Valeant Pharmaceutical currently trades at $29.67.