Piper Jaffray Reiterates Overweight on Watson Pharmaceuticals

Piper Jaffray is out with its report today on Watson Pharmaceuticals

, reiterating Overweight. In its report, Piper Jaffray writes, "With strong visibility on double-digit EPS growth through at least 2013 and a P/E of only 10.5x our 2012 EPS estimate of $6.09, we believe WPI shares are attractive. We reiterate our Overweight rating and $78 price target." Shares of WPI closed Thursday at $64.10, down 2.08% from Wednesday's close.