Actavis plc Coverage Initiated by Analysts at Sterne Agee (ACT)
Equities researchers at Sterne Agee assumed coverage on shares of Actavis plc (NYSE:ACT) in a research report issued on Wednesday, TheFlyOnTheWall.com reports. The firm set a “buy” rating and a $230.00 price target on the stock. Sterne Agee’s target price would indicate a potential upside of 18.59% from the stock’s previous close.
The analysts wrote, “to the company’s pro-revenue and synergy targets, and expects management to continue to implement on its disciplined inorganic growth strategy.”
Shares of Actavis plc (NYSE:ACT) traded up 3.03% during mid-day trading on Wednesday, hitting $199.81. The stock had a trading volume of 2,615,763 shares. Actavis plc has a one year low of $96.26 and a one year high of $230.77. The stock’s 50-day moving average is $209.2 and its 200-day moving average is $178.1. The company’s market cap is $34.807 billion.
Actavis plc (NYSE:ACT) last posted its quarterly earnings results on Thursday, February 20th. The company reported $3.17 EPS for the quarter, beating the Thomson Reuters consensus estimate of $3.05 by $0.12. The company had revenue of $2.78 billion for the quarter, compared to the consensus estimate of $2.68 billion. Analysts expect that Actavis plc will post $13.05 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on ACT. Analysts at Susquehanna upgraded shares of Actavis plc from a “neutral” rating to a “positive” rating in a research note on Wednesday, April 9th. They now have a $260.00 price target on the stock, up previously from $200.00. Separately, analysts at Sanford C. Bernstein raised their price target on shares of Actavis plc from $225.00 to $250.00 in a research note on Wednesday, March 19th. Finally, analysts at Argus raised their price target on shares of Actavis plc from $198.00 to $225.00 in a research note on Tuesday, February 25th. Three research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Actavis plc has an average rating of “Buy” and an average target price of $204.43.
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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