Jefferies Lowers PT on Forest Laboratories to $41

Jefferies & Company has published a research report on Forest Laboratories FRX and has lowered the price target from $46 to $41. In the report, Jefferies writes, "FRX posted its first "miss" in 2 years. EPS would've hit sans $30M R&D milestone. We're encouraged Namenda (biggest post-Lexapro cash-flow driver) is strong despite misleading Rx trends. The new launches are key, and despite early Rx trajectories looking solid, the Street's in show-me mode, and Daliresp will likely ramp slower than we'd hoped." Jefferies maintains its Buy rating on Forest Laboratories, which is currently trading down $0.33 from yesterday's $31.47 closing price.