Canaccord Genuity Maintains Buy On Valeant Pharmaceuticals, $168 PT
In a research report issued today, Canaccord Genuity analyst Neil Maruoka maintained a Buy rating on Valeant Pharmaceuticals (NYSE:VRX) with a price target of $168.00.
Maruoka said, “Valeant will report Q3 results on Monday, October 20. Expectations are high for a strong quarter, as management has recently guided to >15% organic growth driven by >10% growth at Bausch & Lomb. Beyond the quarter, Valeant’s fight to acquire Allergan continues to simmer with speculation that Valeant could up its bid following Q3 results. As we had expected, Allergan’s purported acquisition of Salix appears to have fallen by the wayside, increasing the chances that Valeant will claim its prize, in our view.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Neil Maruoka has a total average return of -13.6% and a 28.6% success rate. Maruoka has a -8.9% average return when recommending VRX, and is ranked #3034 out of 3336 analysts.