UPDATE: Goldman Sachs Maintains Sell Rating, Raises PT for Forest Labs

In a company update issued earlier today, the Goldman Sachs Group, Inc. maintained its Sell rating for Forest Laboratories, Inc. FRX, but raised its price target from $30 to $31. Goldman Sachs said in the report “A downward revision to the FY2013 outlook relative to last year's floor guidance would bring focus to the challenges facing FRX and support our cautious stance, though we acknowledge some anticipation of such a downward revision has been building ahead of earnings. Our concerns have focused on the underperformance of key growth assets and we expect FY2012 will close with Namenda, Bystolic, Savella, Teflaro, and Daliresp all coming in below initial company expectations.” Forest Laboratories, Inc. closed at $33.73 yesterday.