Market Overview

UPDATE: Citigroup Initiates Jazz Pharmaceuticals at Buy; Expecting Settlement to Remove Overhang

Share:
Related JAZZ
'Spider-Man' Glenn King Hopes His Potential Stroke-Saving Arachnid Molecule Makes It To Market
Jazz Pharma Gives Shorts A Wake-Up Call After JZP-110 Study Results
The Vetr community has downgraded $JAZZ to 4-Stars (Vetr)

Citigroup initiated coverage on Jazz Pharmaceuticals (NASDAQ: JAZZ) with a Buy rating and a $70 price target.

Citigroup commented, "We see a high probability (~≥75%) of either a settlement or win for JAZZ around the ongoing litigation with Roxane over narcolepsy drug Xyrem. While we believe JAZZ currently has the upper hand to win the suit, a settlement would be strategic for both parties and either outcome would lift the overhang for JAZZ's valuation. A loss for JAZZ could push its valuation as far down as the low $30's, but we are establishing a $70 TP assuming a favorable outcome for JAZZ (settlement or win) and view the most probable settlement window from late Dec. `12 - Jun `13."

Jazz Pharmaceuticals closed at $51.85 on Monday.

Latest Ratings for JAZZ

DateFirmActionFromTo
Feb 2017Evercore ISI GroupInitiates Coverage OnBuy
Dec 2016Cantor FitzgeraldInitiates Coverage OnOverweight
Aug 2016Janney CapitalInitiates Coverage onNeutral

View More Analyst Ratings for JAZZ
View the Latest Analyst Ratings

Posted-In: CitigroupAnalyst Color Initiation Intraday Update Analyst Ratings

 

Related Articles (JAZZ)

View Comments and Join the Discussion!