July 6, 2017 / 1:54 PM / 4 months ago

BUZZ-Long road to recovery for Valeant - J.P. Morgan analyst

** J.P. Morgan analyst Chris Schott sees limited signs of a turnaround at the embattled Canadian drugmaker’s core franchises, with significant debt reduction needed to create a more manageable leverage situation

** Over past two months, sentiment has become meaningfully less bearish following a series of constructive events including a Q1 guidance raise, debt refinancing transactions and the potential for a debt-to-equity exchange - Schott

** Schott, a top-rated StarMine analyst for the accuracy of his estimates on the company, has a “neutral” rating on VRX

** Valeant’s shares have doubled in value in the past two months after dipping to a low of $8.31 on April 24

** VRX now trades at a premium to the Specialty Pharma group and only a modest discount to the Major Pharma group, leaving not much room for multiple expansion - Schott

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