Forest Laboratories Upgraded to “Buy” by Buckingham Research (FRX)
Forest Laboratories (NYSE:FRX) was upgraded by investment analysts at Buckingham Research from a “neutral” rating to a “buy” rating in a note issued to investors on Thursday, TheFlyOnTheWall.com reports.
Forest Laboratories (NYSE:FRX) traded down 0.10% on Thursday, hitting $69.2276. The stock had a trading volume of 941,977 shares. Forest Laboratories has a 52-week low of $35.22 and a 52-week high of $69.45. The stock’s 50-day moving average is $56.42 and its 200-day moving average is $47.1. The company’s market cap is $18.650 billion.
Forest Laboratories (NYSE:FRX) last issued its quarterly earnings data on Tuesday, October 22nd. The company reported $0.26 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.14 by $0.12. The company had revenue of $811.40 million for the quarter, compared to the consensus estimate of $840.96 million. During the same quarter last year, the company posted $0.08 earnings per share. Forest Laboratories’s revenue was up 12.4% compared to the same quarter last year. Analysts expect that Forest Laboratories will post $1.11 EPS for the current fiscal year.
FRX has been the subject of a number of other recent research reports. Analysts at Mizuho raised their price target on shares of Forest Laboratories from $70.00 to $90.00 in a research note to investors on Thursday. They now have a “buy” rating on the stock. Separately, analysts at Piper Jaffray upgraded shares of Forest Laboratories from a “neutral” rating to an “overweight” rating in a research note to investors on Thursday, December 19th. Finally, analysts at Argus reiterated a “buy” rating on shares of Forest Laboratories in a research note to investors on Wednesday, December 11th. They now have a $62.00 price target on the stock. Seven equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $56.59.
Forest Laboratories, Inc (NYSE:FRX) develops, manufactures and sells branded forms of ethical drug products, most of which requires a physician’s prescription.
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