November 11, 2015 / 3:31 PM / 2 years ago

BUZZ-Valeant Pharmaceuticals International Inc: Brokerages cut PT

1 Min Read

** Embattled Canadian drugmaker's shares down 1.8 pct at $83.33

** Valeant said on Tuesday its dermatology business would be hurt in the short term as it moves rapidly to sever ties with specialty pharmacy Philidor

** TD Securities cuts PT to $160 from $260, Nomura to $175 from $220, RBC to $206 from $213, JP Morgan to $225 from $265

** "Speculative cloud could continue to overhang the stock until there is more conclusive information regarding Philidor and other ongoing investigations," TD Securities analysts write

** 14 of 22 brokerages rate stock "buy" or higher, 7 "hold" and 1 "sell" ; median PT is $173.50

** Up to Tuesday's close, stock had fallen 46 pct since influential short seller Citron research published its report on Oct. 21 alleging Valeant used specialty pharmacies to inflate its revenue

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below