JPMorgan Chase & Co. Increases Actavis Price Target to $170.00 (ACT)
Research analysts at JPMorgan Chase & Co. upped their price target on shares of Actavis (NYSE:ACT) from $160.00 to $170.00 in a report released on Wednesday, American Banking & Market News reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.’s price target indicates a potential upside of 8.54% from the stock’s previous close.
Shares of Actavis (NYSE:ACT) traded up 1.53% during mid-day trading on Wednesday, hitting $156.63. 2,162,136 shares of the company’s stock traded hands. Actavis has a one year low of $80.81 and a one year high of $139.10. The stock has a 50-day moving average of $135.2 and a 200-day moving average of $116.2. The company’s market cap is $20.856 billion.
Actavis (NYSE:ACT) last released its earnings data on Tuesday, October 29th. The company reported $2.09 earnings per share for the quarter, meeting the analysts’ consensus estimate of $2.09. The company had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $2.04 billion. The company’s revenue for the quarter was up 56.7% on a year-over-year basis. On average, analysts predict that Actavis will post $8.35 earnings per share for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Zacks reiterated an “outperform” rating on shares of Actavis in a research note to investors on Wednesday. They now have a $185.00 price target on the stock. Separately, analysts at Jefferies Group reiterated an “in-line” rating on shares of Actavis in a research note to investors on Wednesday. They now have a $168.00 price target on the stock, up previously from $133.00. Finally, analysts at Barclays set a $190.00 price target on shares of Actavis in a research note to investors on Wednesday. They now have an “overweight” rating on the stock. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $154.67.
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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