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UPDATE: Jefferies Reiterates on Actavis PLC Following In-Line Q3 Results, Solid '14 Guidance

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In a report published Wednesday, Jefferies analyst Oren G. Livnat reiterated a Hold rating on Actavis PLC (NYSE: ACT), and raised the price target from $133.00 to $168.00.

In the report, Jefferies noted, “ACT delivered in-line Q3 and solid 1st-time ‘14 guide w/ WCRX that looks conservative. ACT renewed a promise of ‘double-digit' organic growth off the higher earnings base; impressive w/ WCRX's lower growth. Mgmt likely has the levers at its disposal to make it happen and we raise '15-'16. Yet, with ambiguity around Gx pipeline and lifecycle risk on important WCRX franchises, it's hard to justify a premium branded multiple here. Raise to $168. Maintain Hold.”

Actavis PLC closed on Tuesday at $154.27.

Latest Ratings for ACT

DateFirmActionFromTo
Jun 2015Raymond JamesInitiates Coverage onOutperform
May 2015Deutsche BankMaintainsBuy
May 2015SusquehannaMaintainsPositive

View More Analyst Ratings for ACT
View the Latest Analyst Ratings

Posted-In: Jefferies Oren G. LivnatAnalyst Color Price Target Analyst Ratings

 

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