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Jefferies & Company has published a research report on Jazz Pharmaceuticals
JAZZ and has upgraded the company from Hold to Buy.
In the report, Jefferies writes, "Xyrem pricing headroom has been apparent, but the recent volume growth has been a surprise -- and one we now feel has legs. Y/Y growth had accelerated up through single digits last year, and Q1'11's 12% benefited from easy comps, so we were startled by the 11% y/y growth in Q2. We had previously modeled only 5% volume growth in '11-'13, then flat, but we now see higher and more sustainable double-digit volume growth in '11-'13 and single digit thereafter."
Jefferies has also raised the price target on Jazz Pharmaceuticals from $29 to $52.
Jazz Pharmaceuticals closed Friday at $40.47.
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Posted In: Analyst ColorUpgradesPrice TargetAnalyst RatingsHealth CareJefferies & CompanyPharmaceuticals
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