Actavis PT Raised to $205.00 at Morgan Stanley (ACT)
Investment analysts at Morgan Stanley increased their price objective on shares of Actavis (NYSE:ACT) from $182.00 to $205.00 in a note issued to investors on Monday, AnalystRatings.NET reports. Morgan Stanley’s price objective suggests a potential upside of 8.48% from the company’s current price.
The analysts wrote, “We raised ’16-’20E EPS by 5-10%. Mgmt. is investing internally to drive 10% organic EPS growth over the next several years. ACT is the leader in first-to-file U.S generic applications, accounting for 64% of the $5.8B in first-time applications in 2013. Competitors, particularly Teva, were far less active (see slides on p. 4). On the brand side, the planned launch of Delzicol HD in 2015 should blunt the impact of Asacol HD going generic in Nov ’15/ Jul ’16 (depends on Zydus’ ability to get approval).”
Actavis (NYSE:ACT) opened at 188.98 on Monday. Actavis has a 1-year low of $82.02 and a 1-year high of $191.17. The stock’s 50-day moving average is $174.1 and its 200-day moving average is $151.4. The company’s market cap is $32.883 billion.
A number of other analysts have also recently weighed in on ACT. Analysts at RBC Capital raised their price target on shares of Actavis from $202.00 to $222.00 in a research note to investors on Monday. They now have an “outperform” rating on the stock. Separately, analysts at Barclays raised their price target on shares of Actavis from $190.00 to $230.00 in a research note to investors on Monday. Finally, analysts at JPMorgan Chase & Co. raised their price target on shares of Actavis from $215.00 to $230.00 in a research note to investors on Monday. Six research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Actavis presently has a consensus rating of “Buy” and an average target price of $175.16.
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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