UPDATE: Canaccord Genuity Reiterates Buy Rating, Raises PT on Watson Pharmaceuticals

In a report published Monday, Canaccord Genuity reiterated its Buy rating on Watson Pharmaceuticals

, and raised its price target from $90.00 to $100.00. Canaccord Genuity noted, “Call volume on WPI has been heavy and we expect focus to remain high given the event heavy path into year-end. We've taken a deeper look at our model and upcoming catalysts, and consistent with our report Wednesday, ‘A thematic look at specialty pharma positioning amidst macro uncertainty,' continue to like the name into year-end. Post review, we leave our 2013-2015 pro forma EPS estimates unchanged, reflecting a 22% CAGR and 3-5% above consensus but with now greater confidence in upside. We take a closer look at what can take WPI higher with EPS sensitivity around potential upside using 2014 as a baseline year.” Watson Pharmaceuticals closed on Friday at $83.90.