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Fly News Breaks for April 11, 2016
VRX
Apr 11, 2016 | 08:11 EDT
Stifel believes that Valeant has been "turning a corner" in the last several days. The firm says that the company's "most concerning risk factors have been alleviated," as its creditors and bondholders agreed to extend or waive covenants, it committed to filing its 10-K by April 29, and no additional accounting misstatements were found. Stifel remains upbeat on the company's products, and it thinks that the company is worth up to $90-$95 per share on a sum of the parts basis. Stifel predicts that the company will have additional positive catalysts soon, and it keeps a Buy rating on the stock.
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