June 23, 2016

JP Morgan Downgraded Valeant Pharmaceuticals (VRX)


In a a report issued to clients and investors on Thursday morning, equity analysts at JP Morgan’s equities division cut Valeant Pharmaceuticals (NYSE:VRX)’s stock from a Overweight to Neutral. They have a TP of $35.00 on VRX or 61.74% more upside.

Out of 18 analysts covering Valeant Pharmaceuticals Intl (NYSE:VRX), 5 rate it a “Buy”, 5 “Sell”, while 10 “Hold”. This means 25% are positive. $175 is the highest target while $11 is the lowest. The $43.72 average target is 465.71% above today’s ($21.64) stock price. Valeant Pharmaceuticals Intl has been the topic of 67 analyst reports since July 21, 2015 according to StockzIntelligence Inc. Stifel Nicolaus maintained the stock on June 8 with “Buy” rating. Morgan Stanley maintained it with “Equal-Weight” rating and $39 target price in a March 16 report. Rodman & Renshaw maintained the shares of VRX in a report on April 11 with “Buy” rating. Canaccord Genuity maintained the firm’s rating on March 16. Canaccord Genuity has “Hold” rating and $40 price target. Lastly, Barclays Capital downgraded the stock to “Equal-Weight” rating in a March 21 report.