Sterne Agee Increases Actavis plc Price Target to $272.00 (ACT)
Equities researchers at Sterne Agee boosted their price target on shares of Actavis plc (NYSE:ACT) from $255.00 to $272.00 in a research note issued on Thursday. Sterne Agee’s target price would suggest a potential upside of 18.33% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the stock. Analysts at Argus downgraded shares of Actavis plc to a “buy” rating in a research note on Tuesday, August 12th. They now have a $202.72 price target on the stock, down previously from $255.00. Separately, analysts at Leerink Swann reiterated an “outperform” rating on shares of Actavis plc in a research note on Thursday, August 7th. They now have a $260.00 price target on the stock, down previously from $269.00. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Actavis plc in a research note on Wednesday, August 6th. They now have a $225.00 price target on the stock. Four equities research 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 company’s stock. Actavis plc has an average rating of “Buy” and a consensus target price of $235.21.
Shares of Actavis plc (NYSE:ACT) traded up 0.57% on Thursday, hitting $229.86. The stock had a trading volume of 1,794,671 shares. Actavis plc has a 52-week low of $134.75 and a 52-week high of $230.86. The stock has a 50-day moving average of $217.4 and a 200-day moving average of $212.1. The company has a market cap of $60.743 billion and a P/E ratio of 599.87.
Actavis plc (NYSE:ACT) last announced its earnings results on Tuesday, August 5th. The company reported $3.42 earnings per share for the quarter, beating the analysts’ consensus estimate of $3.36 by $0.06. The company had revenue of $2.67 billion for the quarter, compared to the consensus estimate of $2.55 billion. During the same quarter last year, the company posted $2.01 earnings per share. Actavis plc’s revenue was up 34.0% compared to the same quarter last year. On average, analysts predict that Actavis plc will post $13.26 earnings per share 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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