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Jefferies & Company is out with a research report this morning, where it places Valeant Pharmaceuticals
VRX on its restricted list due to the company’s current role as an advisor to its merger with Biovail
BVF.
Prior to the merger, the company was Buy rated, with a $57.00 price target. Valeant hopes to close the merger in mid-October.
Based on the company’s recent earnings report, the analysts said, “Based on the 2Q EPS beat and new guidance, we're raising our 2010 EPS to $3.00 (in-line with guidance) vs. our prior $2.85. We maintain all other EPS estimates.”
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