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Fly News Breaks for October 2, 2015
VRX
Oct 2, 2015 | 07:06 EDT
Morgan Stanley downgraded Valeant to Equal Weight and lowered its price target to $200 from $284. Analyst David Risinger is concerned that U.S. drug pricing clouds may persist and is unsure if the multiple can regain higher levels. Further, the analyst is less optimistic on future M&A prospects given the valuation reset.
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