Bank of America Initiates Coverage on Jazz Pharmaceuticals Positive Outlook

Bank of America reported that, “We initiated coverage of Jazz with a Buy rating and $74 PO, which is based on a sum-of-the-parts DCF analysis and does not require multiple expansion. We like Jazz's focus on areas with strong growth potential and franchise durability, and we expect strong sales and EPS growth over the next several years driven by Xyrem and Erwinaze.” Jazz Pharmaceuticals closed at $56.03 on Monday.