Market Overview

Goldman Sachs Reiterates Buy Rating, $60 PT on Catamaran Corp.

UPDATE: Morgan Stanley Reiterates Equal-Weight Rating on Catamaran Corp Following Salveo Acquisition
Catamaran To acquire Salveo Specialty Pharmacy For $260M In Cash

In a report published Wednesday, Goldman Sachs Group reiterated its Buy rating and $60.00 price target on Catamaran Corp. (NASDAQ: CTRX).

Goldman Sachs noted, “CTRX (CL-Buy) is scheduled to host its 2012 investor day in New York on Thursday, November 15 – its first since the SXC/Catalyst merger. The meeting should help solidify the strategic direction of the combined company with specific updates on: (1) the Catalyst integration and synergies, which both appear to be tracking ahead of schedule, (2) fundamentals and new business outlook, which appear solid for CTRX despite ESRX's 2013 commentary, (3) CTRX's increasing focus on Specialty after its rebranded ‘BriovaRx' launch, and (4) capital allocation plans with the roll-up story likely set to resume. Importantly, the CI/HS contract (18%/5% of sales/EPS) remains a heightened source of investor focus, but we do not expect a resolution at this time. While the absence of an announcement this week could leave some disappointed, we continue to believe the most likely eventual outcome is a continued relationship with CI.”

Catamaran Corp. closed on Tuesday at $49.57.

Latest Ratings for CTRX

Feb 2015Deutsche BankMaintainsHold
Feb 2015Leerink SwannMaintainsOutperform
Feb 2015BarclaysMaintainsEqualweight

View More Analyst Ratings for CTRX
View the Latest Analyst Ratings

Posted-In: Goldman Sachs GroupAnalyst Color Reiteration Analyst Ratings


Related Articles (CTRX)

Around the Web, We're Loving...

Get Benzinga's Newsletters

Benzinga PRO content