J.P. Morgan Reiterates Overweight Rating, $90 PT for Watson Pharmaceuticals

In a report published earlier today, J.P. Morgan & Co. reiterated its Overweight rating and $90.00 price target for Watson Pharmaceuticals, Incorporated WPI. J.P. Morgan went on to say “We see 2012 shaping up as a strong growth year for Watson, driven by the continued strength of the US base business along with the authorized generic launches of Concerta and Lipitor in 2011. Longer term, we view the pending Actavis transaction as a highly transformational step for Watson that will significantly increase the company's profile, both in the US and internationally. Along these lines, we remain Overweight on WPI shares.” Watson Pharmaceuticals, Incorporated closed yesterday at $71.29.