Goldman Sachs Maintains Neutral, $37 Target on Endo Pharmaceuticals

Goldman Sachs reiterates its Neutral rating and $37 target price on Endo Pharmaceuticals

as it refreshes estimates ahead of fourth quarter results. Goldman Sachs says, "In advance of the fourth quarter report, we have refreshed our estimates to reflect (1) better-than-expected prescription trends for Lidoderm and Opana ER; (2) assumptions for the impact of supply constraints given manufacturing disruptions announced in early January; and (3) higher estimates for the medical device business based on read through from competitors. Our new 2011 to 2015 adjusted EPS move to $4.64, $5.41, $6.13, $4.28, and $4.51 respectively (from $4.63, $5.53, $6.06, $4.19, $4.42)." ENDP closed at $35.01 a share yesterday.