Valeant Pharmaceuticals Intl Inc VRX shares are trading higher by $0.35 at $73.74 in Tuesday's session. Before the open, Morgan Stanley maintained its Equal-Weight rating but lowered its price target from $200 to $98.
Early in the session, it made a new low for its recent slide, eclipsing the former low ($72.09) and reaching $70.30 before staging a rebound. So far, it has reached $74 and is attempting to stay positive. If the rally continues, there may be some additional resistance at Monday's high ($75.69).
Joel Elconin is the co-host of Benzinga's #PreMarket Prep, a daily trading idea radio show.
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