UPDATE: Barrington Research Upgrades Perrigo to Outperform Ahead of FQ1 Results
Barrington Research raised its rating on Perrigo (NASDAQ: PRGO) from Market Perform to Outperform on the assumption that they company will maintain its leadership in providing affordable care.
Barrington Research noted, "We recently traveled with the management of PRGO and were incredibly impressed. We took over coverage of PRGO last year and it has taken some time to understand and fully appreciate the sustainability of the growth opportunities that PRGO is exploiting. Over the past year, we have gained a much greater appreciation for the sustainability of the transition from prescription to OTC and branded to generic drugs and in our opinion, these trends are here to stay due to the realities of our economy and the ever increasing cost of healthcare. PRGO has 75% share of the OTC market and it has certainly taken time for us to appreciate that PRGO has sustainable competitive advantages."
Perrigo closed at $115.00 on Friday.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.