Skip to main content

Market Overview

UPDATE: Stifel Upgrades Salix Pharmaceuticals Based on SNTS Deal Accretion


In a report published Tuesday, Stifel analyst Annabel Samimy upgraded the rating on Salix Pharmaceuticals Ltd. (NASDAQ: SLXP) from Hold to Buy, and named a $108.00 price target.

In the report, Stifel noted, “Following a thorough strategic/financial analysis of SLXP's $2.6bn acquisition of SNTS, we are upgrading SLXP to Buy with a $108 target price and believe the deal has several important merits. Strategically, SNTS brings Uceris's IBD franchise complementaries, under which SLXP's GI infrastructure could be maximized ($500mn+). Additionally, SLXP acquires a profitable PCP sales force to both leverage current products and prepare for IBS-D's potential 2014 launch. Importantly, after formally combining the models, we view the deal as even more accretive than initial pro forma calculations, approaching $1.00 in 2014 and as high as $2.00 in 2015, declining thereafter (model changes below). We view this diversifying deal very favorably, and despite a stock move of 15%+ following announcement, we believe there is more realizable value.”

Salix Pharmaceuticals Ltd. closed on Monday at $84.80.

Latest Ratings for SLXP

Mar 2015JefferiesDowngradesBuyHold
Feb 2015Cantor FitzgeraldDowngradesBuyHold
Feb 2015UBSDowngradesBuyNeutral

View More Analyst Ratings for SLXP
View the Latest Analyst Ratings


Related Articles (SLXP)

View Comments and Join the Discussion!

Posted-In: Annabel Samimy StifelAnalyst Color Upgrades Analyst Ratings

Latest Ratings

FSRMorgan StanleyMaintains40.0
MEDDA DavidsonMaintains302.0
VICRBWS FinancialMaintains120.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at