Valeant Pharmaceuticals Reiterated With A Buy At Canaccord
In a research note issued today, Canaccord maintained coverage with a “Buy” rating on Valeant Pharmaceuticals (VRX), and a price target of $168.00 a share.
Canaccord analyst Neil Maruoka believes that the recent pressure on the stock is a result of investor expectations for a long and drawn-out process. He values Valeant based on a DCF model, using an 8.8% discount rate and a higher terminal growth rate of 2.0%. Based on this analysis, he arrive at a target of $168.00, which continues to support his Buy recommendation.
According to TipRanks, which measures analysts and bloggers success rate based on how their calls perform, analyst Neil Maruoka, who covers Valeant, has a one-year average return of -20.7% and a 0% success rate.