UPDATE: Jefferies Color On Forest Laboratories PT Increase

Jefferies, which raised its PT on shares of Forest Laboratories Inc. FRX, is providing some color on the stock. “FRX has proven its development capability over the last three years and its focus now returns to what it does best – commercial execution. The Street's pessimistic about launches in general, but we expect FRX to buck the trend, especially w/ Daliresp,” Jefferies writes. “Also, we think the deep portfolio – NCE and comp. patents nearly across the board – must be on the radar of potential acquirers. We raise estimates post-FQ4 and lift target to $42.” Forest Laboratories closed Friday at $34.23.