Citigroup reiterates Barr at hold/high risk

Barr Pharmaceuticals Inc. was reiterated at a hold/high risk rating and given a new target price of $69 by Citigroup Investment research analyst Andrew Swanson. The company reported adjusted fiscal second-quarter earnings per share that were up 29% to $0.85, ahead of Citigroup's $0.82 forecast and consensus of $0.78. The quarter was top-line driven, with product sales of $289.4 million. The analyst believes earnings upside in the medium term is dependent upon "at-risk" launches of likely candidates Adderall XR, Allegra-D and Tri-Cyclen Lo. Shares of the Woodcliff Lake, N.J., pharmaceutical company were down 13 cents, or 0.19%, at $68.57 on volume of 1,318,400 shares versus the three-month running average of 769,843 shares. (NYSE: BRL)

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