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VRX

Valeant

$17.59

0.35 (2.03%)

10:18
07/17/17
07/17
10:18
07/17/17
10:18

Wells says Valeant selling Obagi for less than half of price paid in 2013

After Valeant announced it has agreed to sell its Obagi Medical Products business for $190M in cash, Wells Fargo analyst David Maris noted that this sale price is less than half of the $437M that the company paid to acquire Obagi in April 2013. While Valeant continues to make progress toward its asset sales and debt reduction targets, Maris does not believe that its recent divestitures have had a significant deleveraging impact. He keeps an Underperform rating on Valeant shares.

  • 08

    Aug

  • 24

    Aug

VRX Valeant
$17.59

0.35 (2.03%)

06/19/17
WELS
06/19/17
NO CHANGE
WELS
Underperform
Wells says Paulson joining Valeant board likely a 'signal of dissatisfaction'
Wells Fargo analyst David Maris said that while some shareholders might see John Paulson joining Valeant's board as a vote of confidence, he "cannot help but think" this is a "signal of dissatisfaction of some sort." Maris, who maintains his long-held Underperform rating on Valeant, added that he does not know what new domain experience Paulson will bring to the board that was not already present.
06/27/17
WELS
06/27/17
NO CHANGE
WELS
Underperform
Valeant debt-for-equity swap would be significantly dilutive, says Wells Fargo
Following a press report that claims Valeant has been having talks with some debtholders about a possible debt-for-equity swap, Wells Fargo analyst David Maris said he believes the company probably anticipated this given its decision to drop EPS guidance in favor of EBITDA for 2017. The analyst, who sees a debt-for-equity swap to be "significantly dilutive" to equity holders, adds that he thinks the consensus forecast for strong EPS growth in 2018- 2022 is "increasingly unlikely." Maris keeps an Underperform rating on Valeant shares.
06/27/17
WELS
06/27/17
NO CHANGE
WELS
Underperform
Several Valeant products on FDA generic focus list, says Wells Fargo
Wells Fargo analyst David Maris noted that several Valeant products are included on the FDA's list of branded drugs that have no listed patents or exclusivities and for which the agency has yet to approve an abbreviated new drug application. The FDA said it intends to expedite the review of any generic drug application for a product on this list, which Maris feels is a risk about which Valeant investors should be aware. He keeps an Underperform rating on Valeant shares.
06/29/17
CANT
06/29/17
NO CHANGE
Target $23
CANT
Overweight
Valeant price target raised to $23 from $18 at Cantor Fitzgerald
In a research note partially titled "We Are Not Waiting Around For More Shoes to Drop," Cantor Fitzgerald analyst Louise Chen raised her price target for shares of Valeant Pharmaceuticals to $23 from $18. The drugmaker closed yesterday up 50c to $17.15. The price target raise is driven by multiple expansion, Chen tells investors in her note. She believes this is deserved because Valeant's "execution has continued to meet or exceed our expectations." The analyst thinks the company has reached a positive inflection point in its turnaround. Chen is confident in CEO Joe Papa's ability to return Valeant to growth. The analyst highlights positive script trends for Salix and believes the company can continue to refinance its debt to push out the maturities beyond where they are today.

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NEWS

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James River Group

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PSX

Phillips 66

$90.87

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VZ

Verizon

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0.23 (0.48%)

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VLO

Valero

$77.42

-0.66 (-0.85%)

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SNDX

Syndax

$12.76

0.39 (3.15%)

07:25
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Syndicate
Syndax raises $25M in a registered direct offering »

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IMDZ

Immune Design

$10.10

-0.85 (-7.76%)

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CVS

CVS Health

$72.44

-0.16 (-0.22%)

07:25
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CVS

CVS Health

$72.44

-0.16 (-0.22%)

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Conference/Events
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IPXL

Impax

$19.95

-0.85 (-4.09%)

07:24
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Breaking Hot Stocks news story on Impax »

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  • 09

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ANDV

Andeavor

$103.82

-1.55 (-1.47%)

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TCMD

Tactile Systems

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AGN

Allergan

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GRPN

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FANG

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$102.60

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UNFI

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$40.57

0.09 (0.22%)

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$1,006.34

3.4 (0.34%)

07:21
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07:21
Downgrade
United Natural Foods, Amazon.com rating change  »

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UNFI

United Natural Foods

$40.57

0.09 (0.22%)

AMZN

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$1,006.34

3.4 (0.34%)

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07:19
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General news
Futures flat following yesterday's advance »

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GM

General Motors

$45.76

-0.12 (-0.26%)

07:19
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07:19
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07:19
Periodicals
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  • 24

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WIT

Wipro

$5.46

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WIT

Wipro

$5.46

-0.09 (-1.62%)

07:17
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Earnings
Wipro reports Q2 revenue $2.1B, consensus $2.13B »

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NFLX

Netflix

$202.68

3.19 (1.60%)

07:16
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