UBS AG Increases Forest Laboratories Price Target to $72.00 (FRX)
Equities researchers at UBS AG raised their price target on shares of Forest Laboratories (NYSE:FRX) from $57.00 to $72.00 in a research report issued on Thursday, American Banking & Market News reports. The firm currently has a “neutral” rating on the stock. UBS AG’s price objective indicates a potential upside of 3.90% from the company’s current price.
Several other analysts have also recently commented on the stock. Analysts at CRT Capital raised their price target on shares of Forest Laboratories from $63.00 to $78.00 in a research note to investors on Thursday. They now have a “buy” rating on the stock. Separately, analysts at Buckingham Research upgraded shares of Forest Laboratories from a “neutral” rating to a “buy” rating in a research note to investors on Thursday. Finally, 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. Seven analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $56.59.
Forest Laboratories (NYSE:FRX) traded down 0.12% on Thursday, hitting $69.22. 941,808 shares of the company’s stock traded hands. Forest Laboratories has a one year low of $35.22 and a one year high of $69.45. The stock has a 50-day moving average of $56.42 and a 200-day moving average of $47.1. The company’s market cap is $18.648 billion.
Forest Laboratories (NYSE:FRX) last released its earnings data on Tuesday, October 22nd. The company reported $0.26 EPS for the quarter, beating the Thomson Reuters 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 in the prior year, the company posted $0.08 earnings per share. The company’s quarterly revenue was up 12.4% on a year-over-year basis. On average, analysts predict that Forest Laboratories will post $1.11 earnings per share for the current fiscal year.
Forest Laboratories, Inc (NYSE:FRX) develops, manufactures and sells branded forms of ethical drug products, most of which requires a physician’s prescription.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.