UPDATE: Morgan Stanley Reiterates Overweight Rating, Raises PT on Actavis plc as M&A Could Offer Additional Upside

Loading...
Loading...
In a report published Thursday, Morgan Stanley analyst David Risinger reiterated an Overweight rating on
Actavis plcACT
, and raised the price target from $246.00 to $266.00. In the report, Morgan Stanley noted, “We believe more large-cap Value and GARP fund managers will come to appreciate Actavis. ACT is now hitting mega-cap radar screens since its mkt cap has stepped up from $18B in Aug. '13 to $60B today. We think ACT is an attractive alternative to large-cap pharma because it trades at a discount on 2015E P/E (14x vs. 17x) and senior mgmt. are astute leaders with a sense of urgency to create extra value via M&A.” Actavis plc closed on Wednesday at $228.55.
date
ticker
name
Price Target
Upside/Downside
Recommendation
Firm
Posted In: Analyst ColorPrice TargetAnalyst RatingsDavid RisingerMorgan Stanley
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...