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Fly News Breaks for December 16, 2015
WBA, VRX
Dec 16, 2015 | 07:31 EDT
Canaccord believes the worst has passed for Valeant (VRX) after the company took its first steps in restoring credibility and investor confidence by striking two new U.S. fulfillment agreements with major retailer Walgreens (WBA). The firm believes the current valuation reflects a substantial discount to the most bearish of scenarios but believes fundamentals are intact. Canaccord reiterated its Buy rating and $170 price target on Valeant shares.
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