Actavis plc Upgraded to Top Pick at RBC Capital (ACT)
Actavis plc (NYSE:ACT) was upgraded by RBC Capital from an “outperform” rating to a “top pick” rating in a research note issued on Monday, TheFlyOnTheWall.com reports. The firm currently has a $259.00 price objective on the stock, up from their previous price objective of $252.00. RBC Capital’s price target indicates a potential upside of 32.02% from the company’s current price. The analysts noted that the move was a valuation call.
Actavis plc (NYSE:ACT) traded up 1.27% during mid-day trading on Monday, hitting $198.67. 253,609 shares of the company’s stock traded hands. Actavis plc has a 52-week low of $117.64 and a 52-week high of $230.77. The stock has a 50-day moving average of $201.1 and a 200-day moving average of $185.0. The company’s market cap is $34.657 billion.
Actavis plc (NYSE:ACT) last announced its earnings results on Wednesday, April 30th. The company reported $3.49 EPS for the quarter, beating the Thomson Reuters consensus estimate of $3.23 by $0.26. The company had revenue of $2.66 billion for the quarter, compared to the consensus estimate of $2.59 billion. During the same quarter in the prior year, the company posted $1.99 earnings per share. The company’s quarterly revenue was up 40.1% on a year-over-year basis. On average, analysts predict that Actavis plc will post $13.62 earnings per share for the current fiscal year.
ACT has been the subject of a number of other recent research reports. Analysts at Zacks reiterated an “outperform” rating on shares of Actavis plc in a research note on Thursday, May 1st. They now have a $245.00 price target on the stock. Separately, analysts at CRT Capital raised their price target on shares of Actavis plc from $230.00 to $245.00 in a research note on Thursday, May 1st. They now have a “buy” rating on the stock. Finally, analysts at Leerink Swann raised their price target on shares of Actavis plc from $245.00 to $246.00 in a research note on Thursday, May 1st. They now have an “outperform” rating on the stock. Three analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. Actavis plc presently has a consensus rating of “Buy” and an average target price of $212.00.
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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