UPDATE: Jefferies Reiterates on Actavis PLC Following In-Line Q3 Results, Solid '14 Guidance

In a report published Wednesday, Jefferies analyst Oren G. Livnat reiterated a Hold rating on Actavis PLC ACT, and raised the price target from $133.00 to $168.00. In the report, Jefferies noted, “ACT delivered in-line Q3 and solid 1st-time ‘14 guide w/ WCRX that looks conservative. ACT renewed a promise of ‘double-digit' organic growth off the higher earnings base; impressive w/ WCRX's lower growth. Mgmt likely has the levers at its disposal to make it happen and we raise '15-'16. Yet, with ambiguity around Gx pipeline and lifecycle risk on important WCRX franchises, it's hard to justify a premium branded multiple here. Raise to $168. Maintain Hold.” Actavis PLC closed on Tuesday at $154.27.