UPDATE: Credit Suisse Raises PT on Catamaran, Adjusts Estimates Following F4Q12 Earnings
In a report published Friday, Credit Suisse reiterated its Outperform rating on Catamaran Corp. (NASDAQ: CTRX), and raised its price target from $57.00 to $61.00.
Credit Suisse noted, “We have revisited our estimates and model following F4Q12 earnings. While we are maintaining our F13 estimate of $1.86, we have increased our F14 estimate to $2.30 from $2.28 and are introducing a F15 estimate of $2.63. Our new PT of $61 (from $57) implies shares can trade at 26-27x our F14 estimate.”
Catamaran Corp. closed on Thursday at $53.71.
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