Market Overview

UPDATE: Paradigm Capital Lowers PT to $67 on Valeant Pharmaceuticals on Raising Interest Cost

Related VRX
Report: Actavis, Sanofi To Bid On Over-The-Counter Drug Maker
IBM's Report Weighs On The Dow, Apple Helps Boost The Nasdaq, S&P 500 Extends Winning Streak
Deal Frenzy: 2014 Sees Record M&A Volume (Fox Business)

Paradigm Capital reiterated its Buy rating on Valeant Pharmaceuticals (NYSE: VRX) but lowered its price target from $70 to $67 ahead of the quarterly earnings release.

Paradigm Capital commented, "We continue to hold a positive view toward Valeant's unique approach to running a specialty pharmaceutical company, which we believe sets it apart from its peers. That said, the debt raised recently to pay for the Medicis acquisition leads to a material increase in interest payments, which dilutes the company's earnings power. We are lowering our price target to $67.00 (from $70.00) to account for these interest payments."

Valeant Pharmaceuticals closed at $54.62 on Tuesday.

Latest Ratings for VRX

DateFirmActionFromTo
Oct 2014Cantor FitzgeraldMaintainsBuy
Oct 2014JefferiesMaintainsBuy
Aug 2014Cantor FitzgeraldMaintainsBuy

View More Analyst Ratings for VRX
View the Latest Analyst Ratings

Posted-In: Paradigm CapitalAnalyst Color Price Target Intraday Update Analyst Ratings

 

Related Articles (VRX)

Around the Web, We're Loving...

Get Benzinga's Newsletters