Piper Sandler raised the firm’s price target on Amneal Pharmaceuticals to $8 from $6 and keeps an Overweight rating on the shares. With Amneal’s oral solid generics business continuing to fade in importance to the overall top-line mix, owing in part to a growing injectables/biosimilars footprint, the firm believes further multiple expansion from a current EV/2024E EBITDA of 7-times is warranted.
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