UPDATE: Goldman Sachs Downgrades Warner Chilcott to Neutral
Goldman Sachs lowers its rating to Neutral on Warner Chilcott (NASDAQ: WCRX) as it sees more tangible upside drivers in peers. Price target remains at $20.
Goldman Sachs says, "We have removed Warner Chilcott from the Americas Buy List, alongside our upgrade of Medicis (MRX) to Buy (see report titled “Now playing offense, leveraging key strengths”). Our downgrade does not imply a change to our constructive view and we continue to see meaningful upside potential, however, we see more upside to our price target and more tangible upside drivers for MRX. Since being added to the Americas Buy List on September 19, 2011, WCRX is up 5.7% vs. the S&P 500 up 13.4%. Over the past 12 months shares are down 30.3% while the S&P 500 is up 3.3%."
WCRX closed at $17.02 yesterday
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