Canaccord said Valeant shares were down 16.5% yesterday on news a group of House Oversight Committee Democrats requested a subpoena that would compel Valeant to turn over documents regarding drug price increases. Analyst Neil Maruoka is playing the "poster boy" for the perceived ills of big phama and that the discussion regarding price controls in the U.S. is not new. Maruoka does not believe there will be any imminent change that would change the argument that pricing caps would stifle innovation and notes insurers have options to push back on price. The analyst believe s the selloff in Valeant shares is overdone and would use the weakness as a buying opportunity. Canaccord rates shares a Buy with a $300 price target.