Market Overview

Sterne Agee Still Has Confidence In Actavis plc

Share:

In a report published Wednesday, Sterne Agee analyst Shibani Malhotra reiterated a Buy rating and $272.00 price target on Actavis plc (NYSE: ACT).

In the report, Sterne Agee noted, “Although Actavis failed to garner support at today's FDA AdCom for the product, we do not see this as being very meaningful to longer-term growth and earnings potential. Per our estimates, removing this product from our revenue estimates decreases our 2018E EPS by less than 1% (see Exhibit 1 below). We believe that the company still has many levers to drive meaningful EPS growth and easily reach its 2017 EPS target of ~$20.”

Actavis closed on Tuesday at $232.61.

Latest Ratings for ACT

DateFirmActionFromTo
Jun 2015Raymond JamesInitiates Coverage onOutperform
May 2015Deutsche BankMaintainsBuy
May 2015SusquehannaMaintainsPositive

View More Analyst Ratings for ACT
View the Latest Analyst Ratings

Posted-In: Shibani Malhotra Sterne AgeeAnalyst Color Reiteration Analyst Ratings

 

Related Articles (ACT)

View Comments and Join the Discussion!

Latest Ratings

StockFirmActionPT
PPCStephens & Co.Reiterates27.0
ALLOBerenbergInitiates Coverage On27.0
MPLXWells FargoDowngrades28.0
WMBWells FargoDowngrades24.0
BCPCHC Wainwright & Co.Maintains116.0
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.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
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 vipaccounts@benzinga.com