May 15, 2018 / 11:23 AM / 5 months ago

BUZZ-Valeant: Portfolio now looks "Mylan-like", upgrades to 'buy' - Mizuho

** Valeant’s portfolio now looks “Mylan-like” in which ~70 pct of revenue consists of stable products that are consumer-focused, or older drugs that are already generic, says Mizuho analyst Irina Koffler upgrading the stock to “buy” from “neutral”

** U.S.-listed shares of Canadian drugmaker up 4.5 pct at $21.75 premarket

** Koffler says there is actual growth potential from VRX’s pipeline, which contains multiple catalysts in 2018-2020

** VRX needs to simply execute on its quarters and push through new product launches for stock to work in the next year - Koffler

** However, Koffler feels revenue and adj. EBITDA CAGR guidance over 2018-2021 period to be challenging

** Koffler, rated 4/5 stars for recommendation accuracy on VRX by TR StarMine, hikes PT by $12 to $27, 2nd highest on Street; median PT $20

** 6 of 19 brokerages rate the stock “buy” or higher, 8 “hold” and 5 “sell” or lower

** Stock up 53 pct in last 12 months (Reporting by Brijesh Patel in Bengaluru)

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