Deutsche still likes Valeant risk/reward, ups price target to $25. Deutsche Bank analyst Gregg Gilbert raised his price target for Valeant Pharmaceuticals to $25 from $23 after giving the company some additional credit for protecting the Xifaxan franchise. The analyst pushed out his generic cliff assumption to 2027 from 2026, which he notes still represents a potential “settlement” scenario with generic competition ahead of patent expiry. It is important to note there could be “significant upside to the theoretical valuation” if Xifaxan grows faster than anticipated, generic competition is delayed beyond 2027, and/or if Valeant is able to protect the franchise with new formulations and indications, Gilbert tells investors in a research note. He continues to like the risk/reward for the stock and keeps a Buy rating on the shares.
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