UPDATE: Morgan Stanley Raises PT to $61 on Valeant Pharmaceuticals on Deals

Morgan Stanley says in a recent report that it raises its price target on Overweight-rated Valeant Pharmaceuticals

from $57 to $61. Morgan Stanley comments, "We raise our 2012-2015e EPS by 5-10% and bump our PT from $57 to $61 on recent deals. Future strategic activity could drive earnings materially higher over the long-term." VRX closed at $50.93 on Friday.