“We are initiating coverage of Valeant Pharmaceuticals International, a specialty pharmaceuticals firm with a highly diversified revenue mix consisting of patent-protected ethical pharmaceuticals, branded generics, and over-the-counter (OTC) medications. We are instituting a Buy rating with a 12-month price target of $80.00 per share, derived from an earnings multiple-based valuation approach that applies a ~15x forward multiple to our 2013 projected diluted EPS of $5.52 per share.,” Aegis’ analyst wrote.
Shares of Valeant Pharmaceuticals traded down 0.46% during mid-day trading on Friday, hitting $65.16. Valeant Pharmaceuticals has a one year low of $42.47 and a one year high of $67.98. The stock’s 50-day moving average is currently $65.38. The company has a market cap of $19.862 billion and a P/E ratio of 743.86.
VRX has been the subject of a number of other recent research reports. Analysts at Zacks downgraded shares of Valeant Pharmaceuticals from an outperform rating to a neutral rating in a research note to investors on Tuesday, February 19th. They now have a $71.20 price target on the stock. Separately, analysts at Deutsche Bank reiterated a buy rating on shares of Valeant Pharmaceuticals in a research note to investors on Monday, January 7th. They now have a $77.00 price target on the stock, up previously from $75.00. Finally, analysts at Lazard Capital Markets cut their price target on shares of Valeant Pharmaceuticals from $79.00 to $72.00 in a research note to investors on Monday, January 7th. They now have a buy rating on the stock.
Fourteen analysts have rated the stock with a buy rating, four have given a hold rating, and one has issued an underweight rating to the company. Valeant Pharmaceuticals has a consensus rating of overweight and a consensus price target of $72.80.
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