Salix: CEO Retirement Could Pave The Way To A Company Sale, Says Cantor; Lifts Price Target
In a research report published today, Cantor analyst Irina Rivkind reiterated a Buy rating on Salix Pharmaceuticals (NASDAQ:SLXP) and raised her price target to $145 (from $127), as the company announced the retirement of CEO Carolyn Logan. The company’s Chairman of the Board, Thomas D’Alonzo, will act as interim CEO until a permanent CEO can be retained.
Koffler noted, “The sudden CEO departure without a clear succession plan coupled with a December 18 Reuters report that Paulson has taken a position in Salix and top shareholders are pushing for a company sale, suggests to us that all options could be on the table. We continue to believe that this company remains a potential takeout target due to its robust growing and durable Xifaxan franchise and prominence amongst gastroenterologists.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Irina Rivkind Koffler has a total average return of 17.9% and a 64.7% success rate. Koffler has a 12.7% average return when recommending SLXP, and is ranked #110 out of 3429 analysts.