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Fly News Breaks for August 25, 2016
VRX
Aug 25, 2016 | 08:51 EDT
Morgan Stanley analyst David Risinger said he recently visited with Valeant executives, including CEO Joe Papa, at the company's headquarters and came away with the impression that management is taking the right steps to turn the business around and pay down debt. When asked for a timeline on non-core divestitures, Papa stated about six months from June, implying that potentially meaningful announcements may be possible by the end of the year, Risinger added. The firm keeps an Overweight rating and $42 price target on Valeant shares.
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