UPDATE: Morgan Stanley Upgrades Endo International PLC to Overweight, Names $79 PT on Attractive Risk-Reward

In a report published Friday, Morgan Stanley analyst Christopher Caponetti upgraded the rating on Endo International PLC ENDP from Equal-Weight to Overweight, and named a $79.00 price target. In the report, Morgan Stanley noted, “Mesh settlement removes what had been a potential multi-billion dollar liability in our bear case, and we now see a compelling risk-reward driven by M&A upside in our bull case. Our $79 PT assumes mgmt. follows through on 2-3 deals over the near-term.” Endo International PLC closed on Thursday at $66.36.