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Fly News Breaks for June 27, 2017
VRX
Jun 27, 2017 | 13:25 EDT
Following a press report that claims Valeant has been having talks with some debtholders about a possible debt-for-equity swap, Wells Fargo analyst David Maris said he believes the company probably anticipated this given its decision to drop EPS guidance in favor of EBITDA for 2017. The analyst, who sees a debt-for-equity swap to be "significantly dilutive" to equity holders, adds that he thinks the consensus forecast for strong EPS growth in 2018- 2022 is "increasingly unlikely." Maris keeps an Underperform rating on Valeant shares.
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