Market Overview

UPDATE: Citigroup Initiates Jazz Pharmaceuticals at Buy; Expecting Settlement to Remove Overhang

Related JAZZ
Jazz Pharma, Concert Pharma Report JZP-386 Program Update
Great News For Biogen, But What's Next For The Stock?

Citigroup initiated coverage on Jazz Pharmaceuticals (NASDAQ: JAZZ) with a Buy rating and a $70 price target.

Citigroup commented, "We see a high probability (~≥75%) of either a settlement or win for JAZZ around the ongoing litigation with Roxane over narcolepsy drug Xyrem. While we believe JAZZ currently has the upper hand to win the suit, a settlement would be strategic for both parties and either outcome would lift the overhang for JAZZ's valuation. A loss for JAZZ could push its valuation as far down as the low $30's, but we are establishing a $70 TP assuming a favorable outcome for JAZZ (settlement or win) and view the most probable settlement window from late Dec. `12 - Jun `13."

Jazz Pharmaceuticals closed at $51.85 on Monday.

Latest Ratings for JAZZ

DateFirmActionFromTo
Nov 2014CitigroupMaintainsBuy
Nov 2014Stifel NicolausMaintainsBuy
Aug 2014JP MorganInitiates Coverage onOverweight

View More Analyst Ratings for JAZZ
View the Latest Analyst Ratings

Posted-In: CitigroupAnalyst Color Initiation Intraday Update Analyst Ratings

 

Related Articles (JAZZ)

Around the Web, We're Loving...

Get Benzinga's Newsletters