Piper Jaffray Reiterates Overweight on Watson Pharmaceuticals

Piper Jaffray is out with its report today on Watson Pharmaceuticals WPI, reiterating Overweight. In its report, Piper Jaffray writes, "With multiple high-value generic opportunities (not to mention Prochieve on the brand side), we continue to believe that visibility on double-digit EPS growth for WPI for at least the next 2-3 years is strong. We reiterate our Overweight rating and $78 PT." Shares of WPI closed Tuesday at $71.98.