UPDATE: Credit Suisse Downgrades Vivus on Valuation

In a report published Monday, Credit Suisse analyst Lee Kalowski downgraded the rating on Vivus VVUS from Outperform to Neutral, but reiterated the $15.00 price target.

In the report, Credit Suisse noted, “We are downgrading VVUS from Outperform to Neutral on valuation. It is looking increasingly likely to us that at least some level of board/management changes are inevitable. But with the stock trading at close to $15, we think investors are increasingly pricing this in. Upside from here would likely require an outright sale, which we see as unlikely.”

Vivus closed on Friday at $14.70.