Perrigo Company plc Received its Third Buy in a Row

After Canaccord Genuity and Oppenheimer gave Perrigo Company plc (NYSE: PRGO) a Buy rating last month, the company received another Buy, this time from Cantor Fitzgerald. Analyst Louise Chen assigned a Buy rating to Perrigo Company plc today and set a price target of $107. The company’s shares closed yesterday at $75.97.

Chen noted:

“We rate PRGO as 12-month price target of $107. Perrigo has been through a lot over the past two years, but we think the Street can finally refocus on fundamentals. This should drive a greater appreciation for the company’s growth prospects and earnings potential, in our view. Valuation Summary We use a blend of DCF and multiples (EV/EBITDA) analysis to get to our 12- month price target of $107.”

According to TipRanks.com, Chen has currently no stars on a ranking scale of 0-5 stars, with an average return of -8.1% and a 39.4% success rate. Chen covers the Healthcare sector, focusing on stocks such as Aclaris Therapeutics Inc, Paratek Pharmaceuticals, and Spero Therapeutics Inc.

Currently, the analyst consensus on Perrigo Company plc is Moderate Buy and the average price target is $96.60, representing a 27.2% upside.

In a report issued on May 11, Oppenheimer also assigned a Buy rating to the stock with a $98 price target.

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The company has a one-year high of $95.93 and a one-year low of $63.68. Currently, Perrigo Company plc has an average volume of 1.18M.

Based on the recent corporate insider activity of 51 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of PRGO in relation to earlier this year.

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Perrigo Co. Plc is a healthcare company, which engages in the production of over-the-counter consumer goods and specialty pharmaceutical products. It operates through the following segments: Consumer Healthcare Americas, Consumer Healthcare International, and Prescription Pharmaceuticals.