Argus Reiterates “Buy” Rating for Actavis (ACT)
Actavis (NYSE:ACT)‘s stock had its “buy” rating reaffirmed by analysts at Argus in a research report issued to clients and investors on Tuesday, Analyst Ratings.Net reports. They currently have a $150.00 price objective on the stock. Argus’ price target indicates a potential upside of 4.17% from the company’s current price.
Actavis (NYSE:ACT) traded up 0.30% on Tuesday, hitting $144.43. The stock had a trading volume of 812,633 shares. Actavis has a 52 week low of $81.73 and a 52 week high of $145.50. The stock’s 50-day moving average is $136.6 and its 200-day moving average is $120.8. The company’s market cap is $19.231 billion.
Actavis (NYSE:ACT) last released its earnings data on Thursday, July 25th. The company reported $2.01 EPS for the quarter, beating the Thomson Reuters consensus estimate of $2.00 by $0.01. The company had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.99 billion. The company’s quarterly revenue was up 46.8% on a year-over-year basis. Analysts expect that Actavis will post $8.34 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on ACT. Analysts at Leerink Swann raised their price target on shares of Actavis (NYSE:ACT) to $165.00 in a research note to investors on Tuesday. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Actavis (NYSE:ACT) in a research note to investors on Wednesday, September 25th. They now have a $146.00 price target on the stock. Finally, analysts at Barclays Capital raised their price target on shares of Actavis (NYSE:ACT) from $140.00 to $175.00 in a research note to investors on Monday, September 16th. They now have an “overweight” rating on the stock. Six investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $144.50.
Actavis, Inc formerly Watson Pharmaceuticals, Inc, is a integrated global specialty pharmaceutical company engaged in the development, manufacturing, marketing, sale and distribution of generic, branded generic, brand, biosimilar and over-the-counter (NYSE:ACT) pharmaceutical products.
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