Actavis plc’s “Overweight” Rating Reaffirmed at Morgan Stanley (ACT)
Actavis plc (NYSE:ACT)‘s stock had its “overweight” rating restated by investment analysts at Morgan Stanley in a note issued to investors on Wednesday. They currently have a $246.00 price target on the stock. Morgan Stanley’s target price would suggest a potential upside of 14.39% from the company’s current price.
ACT has been the subject of a number of other recent research reports. Analysts at Wells Fargo & Co. initiated coverage on shares of Actavis plc in a research note on Tuesday, June 10th. They set an “outperform” rating on the stock. Separately, analysts at Zacks downgraded shares of Actavis plc from an “outperform” rating to a “neutral” rating in a research note on Thursday, May 22nd. They now have a $219.00 price target on the stock. Finally, analysts at Sterne Agee reiterated a “buy” rating on shares of Actavis plc in a research note on Thursday, May 22nd. They now have a $250.00 price target on the stock, up previously from $230.00. They noted that the move was a valuation call. Four investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $222.85.
Actavis plc (NYSE:ACT) opened at 215.06 on Wednesday. Actavis plc has a 1-year low of $118.92 and a 1-year high of $230.77. The stock’s 50-day moving average is $207.7 and its 200-day moving average is $195.3. The company’s market cap is $37.516 billion.
Actavis plc (NYSE:ACT) last posted its quarterly 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. Analysts expect that Actavis plc will post $13.67 EPS 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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