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Fly News Breaks for July 8, 2016
ENDP
Jul 8, 2016 | 06:37 EDT
Piper Jaffray analyst David Amsellem lowered his price target for Endo International to $18 after taking a closer look at trends for the company's generics segment. It is difficult to handicap what annual trough earnings will be, Amsellem tells investors in a research note. Endo's 2017 non-GAAP earnings could approach or even breach $4.00, and its 2016 guidance could see another downward revision, the analyst contends. He says "volume trends for generics do not paint a pretty picture." Amsellem keeps a Neutral rating on Endo.
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