Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Markets & Finance

Jefferies Cuts Endo Pharmaceuticals to 'Hold'


Jefferies downgraded Endo Pharmaceuticals (ENDP) to hold from buy on valuation.

Analyst David Windley had maintained his buy rating following Friday's first-quarter release for two main reasons. First, he expected Endo would retrace part of its 21% gain on Apr. 24, and he assumed that in his rating. Second, he had previously named a number of longer-term opportunities, and assumed Endo would trade down modestly, and hang out for a while; instead, the company has been making new highs.

Given that nothing other than a general lift in the market has changed since he last increased his target, Windley says he's disinclined to raise his target, therefore, he downgraded. He sees 93 cents 2003 earnings per share, and $1.02 for 2004. Windley has an $18 target.


LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus