Actavis Price Target Raised to $198.00 at Argus (ACT)
Analysts at Argus upped their price target on shares of Actavis (NYSE:ACT) from $180.00 to $198.00 in a research report issued to clients and investors on Friday, American Banking & Market News reports. The firm currently has a “buy” rating on the stock. Argus’ price target suggests a potential upside of 9.56% from the stock’s previous close.
A number of other firms have also recently commented on ACT. Analysts at Cowen and Company upgraded shares of Actavis from a “market perform” rating to an “outperform” rating in a research note to investors on Friday, January 10th. They now have a $215.00 price target on the stock, up previously from $130.00. Separately, analysts at RBC Capital initiated coverage on shares of Actavis in a research note to investors on Tuesday, January 7th. They set an “outperform” rating and a $202.00 price target on the stock. Finally, analysts at Zacks downgraded shares of Actavis from an “outperform” rating to a “neutral” rating in a research note to investors on Thursday, November 28th. They now have a $172.00 price target on the stock. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Actavis has a consensus rating of “Buy” and an average target price of $163.16.
Actavis (NYSE:ACT) traded up 1.83% on Friday, hitting $184.03. 1,123,375 shares of the company’s stock traded hands. Actavis has a 52 week low of $82.02 and a 52 week high of $186.98. The stock has a 50-day moving average of $167.8 and a 200-day moving average of $147.2. The company’s market cap is $32.021 billion.
Actavis (NYSE:ACT) last announced its earnings results on Tuesday, October 29th. The company reported $2.09 earnings per share (EPS) for the quarter, meeting the 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 $9.28 earnings per share for the current fiscal year.
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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