Watson gets neutral rating from Credit Suisse

Watson Pharmaceuticals Inc. was rated at neutral by Credit Suisse analyst Ken Kulju following the company's conference call to announce its plan to acquire Andrx. Management provided no specific details on anticipated post-merger synergies and was unspecific with its current status of the $300 million share buyback programs. Credit Suisse is softening its 2006 earnings forecast by two cents to a new level of $1.41 and reducing its 2007 estimate by three cents to a new level of $1.56. The analyst also lowered his target price to $31.5 from $39. Shares of the Corona, Calif., pharmaceutical company were up 4 cents, or 0.14%, at $29.04 on volume of 1,314,500 shares versus the three-month running average of 940,052 shares. (NYSE: WPI)

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.