Forest Laboratories Rating Lowered to Fair Value at CRT Capital (FRX)
Forest Laboratories (NYSE:FRX) was downgraded by CRT Capital from a “buy” rating to a “fair value” rating in a research note issued on Wednesday, AnalystRatingsNetwork reports. They currently have a $93.00 target price on the stock, up from their previous target price of $78.00. CRT Capital’s price target suggests a potential upside of 2.15% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the stock. Analysts at Buckingham Research downgraded shares of Forest Laboratories from a “buy” rating to a “neutral” rating in a research note on Wednesday. Separately, analysts at Goldman Sachs downgraded shares of Forest Laboratories from a “buy” rating to a “neutral” rating in a research note on Wednesday. Finally, analysts at Mizuho downgraded shares of Forest Laboratories from a “buy” rating to a “neutral” rating in a research note on Wednesday. They now have a $93.00 price target on the stock. Eleven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $61.24.
Shares of Forest Laboratories (NYSE:FRX) opened at 91.04 on Wednesday. Forest Laboratories has a one year low of $35.22 and a one year high of $72.40. The stock has a 50-day moving average of $65.89 and a 200-day moving average of $51.66. The company has a market cap of $24.668 billion and a price-to-earnings ratio of 123.09.
Forest Laboratories (NYSE:FRX) last announced its earnings results on Tuesday, January 21st. The company reported $0.07 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.05 by $0.02. The company had revenue of $846.80 million for the quarter, compared to the consensus estimate of $827.25 million. During the same quarter last year, the company posted ($0.21) earnings per share. Forest Laboratories’s revenue was up 22.6% compared to the same quarter last year. On average, analysts predict that Forest Laboratories will post $1.33 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.
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