Actavis plc Price Target Increased to $275.00 by Analysts at CRT Capital (ACT)
Equities research analysts at CRT Capital boosted their target price on shares of Actavis plc (NYSE:ACT) from $245.00 to $275.00 in a research note issued to investors on Wednesday. The firm currently has a “buy” rating on the stock. CRT Capital’s price target would indicate a potential upside of 22.77% from the stock’s previous close.
Actavis plc (NYSE:ACT) opened at 224.00 on Wednesday. Actavis plc has a 1-year low of $121.12 and a 1-year high of $230.77. The stock’s 50-day moving average is $213.2 and its 200-day moving average is $199.6. The company’s market cap is $39.076 billion.
Actavis plc (NYSE:ACT) last announced its earnings results on Wednesday, April 30th. The company reported $3.49 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $1.99 earnings per share. The company’s revenue for the quarter was up 40.1% on a year-over-year basis. On average, analysts predict that Actavis plc will post $13.64 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Canaccord Genuity initiated coverage on shares of Actavis plc in a research note on Friday, June 27th. They set a “buy” rating and a $275.00 price target on the stock. Separately, analysts at RBC Capital reiterated a “top pick” rating on shares of Actavis plc in a research note on Tuesday, June 24th. They now have a $259.00 price target on the stock. Finally, analysts at JPMorgan Chase & Co. initiated coverage on shares of Actavis plc in a research note on Monday, June 23rd. They set an “overweight” rating and a $300.00 price target on the stock. Four investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. Actavis plc presently has an average rating of “Buy” and an average target price of $230.10.
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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