Endo target cut by Deutsche Bank

Deutsche lowers Endo target to $10, keeps Buy rating. Deutsche Bank analyst Gregg Gilbert says that while it is difficult to predict when sentiment on Endo International could improve, the potential exists for greater visibility on some key overhangs over the next year or so. The stock is down 20% year-to-date as U.S. generic market pressures, Vasostrict risk, potential legal liabilities and high leverage continue to weigh on the stock, Gilbert tells investors in a research note. The analyst lowered his price target for Endo to $10 from $12 but keeps a Buy rating on the name. He believes it will be important to see continued stabilization for the generics business and new generic approvals for the stock to work.

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