UPDATE: Credit Suisse Initiates Jazz Pharmaceuticals with Outperform, $65 PT; Organic and Acquisition Growth Outlook
Credit Suisse initiates its coverage on Jazz Pharmaceuticals (NASDAQ: JAZZ) with an Outperform rating and a price target of $65.
Credit Suisse comments, "We rate JAZZ Outperform because it offers (1) organic growth of the Xyrem franchise, driven by volume growth, pricing power and what we see as a defensible franchise against generics until at least 2020, based on our work with patent counsel; (2) diversification, accretion and cash flows provided by Erwinaze, the key product obtained in the recently announced EUSA acquisition; and (3) a platform for acquisitions created by JAZZ's low tax rate, focused acquisition strategy and execution capabilities."
JAZZ closed at $43.66 on Tuesday.
Latest Ratings for JAZZ
|Dec 2016||Cantor Fitzgerald||Initiates Coverage On||Overweight|
|Aug 2016||Janney Capital||Initiates Coverage on||Neutral|
|Aug 2016||Deutsche Bank||Maintains||Buy|
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.