In a report published Wednesday, Morgan Stanley analyst David Risinger resumed coverage on Actavis plc ACT with an Overweight rating and $246.00 price target.
In the report, Morgan Stanley noted, “The Forest acquisition is financially compelling and sets the stage for more value-creating M&A. We expect cons. ests. will rise due to synergy upside and Namenda durability. New $246 PT is 14.5x ‘15E EPS of $16.89 and 13x ‘15E EBITDA of $6.23B.”
Actavis plc closed on Tuesday at $215.06.
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