UPDATE: JP Morgan Downgrades Forest Laboratories to Neutral on Elongated Recovery

JP Morgan downgraded Forest Laboratories FRX from Overweight to Neutral and lowered its price target from $41 to $37. JP Morgan said, "While Forest's development efforts have been highly successful and we see meaningful long-term term earnings power for the company, new product launches have lagged our expectations despite a significant ramp in SG&A. With a similar trend potentially repeating itself with several of the company's next-generation product opportunities, we believe Forest could see a more elongated recovery in earnings and along these lines, see better opportunities within our Specialty Pharma coverage." Forest Laboratories closed at $33.40 on Wednesday.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: Analyst ColorDowngradesIntraday UpdateAnalyst RatingsJP Morgan
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!