Wells Fargo analyst David Maris says that when Valeant reports its Q2 results, the Street will focus on whether the company is on track to violate its debt covenants next year. The analyst says he will be looking for a debt reduction plan form the company's new CEO. He thinks the company will sell additional assets going forward which is negative for shareholders, and he believes that the company could miss the consensus 2017 EPS outlook. The analyst does not see any sign of a turnaround materializing, and keeps an Underperform rating on the stock.