UPDATE: Goldman Sachs Raises PT on Actavis; Optionality with Generic Launches
Goldman Sachs maintained Actavis (NYSE: ACT) with a Neutral rating and raised the price target from $94.00 to $95.00.
Goldman Sachs analyst Jami Rubin commented, "There are many near-term pieces to the ACT story (court cases, generic launches) that could provide upside/downside to our 2013 estimates. Given the recent launch of generic Suboxone and delayed competition to generic Concerta we see more upside vs. downside to guidance. We expect news in the next couple of weeks for Pulmicort Respules. Drivers of upside relative to guidance: Crestor 505(b)2, delayed Concerta competition, and Suboxone. Drivers of downside: Pulmicort Respules if ACT loses the court case."
Actavis closed at $90.54 on Monday.
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Tags: Goldman Sachs