Jefferies analyst Glen Santangelo reinstated coverage of Viatris with a Buy rating and $15 price target. Following the string of non-core asset sales, the firm remains bullish as Viatris. The company appears well positioned for outperformance as another $2.5B comes in from asset sales, its leverage moves lower, repurchases ramp higher and the setup into Q2 looks favorable, the analyst tells investors in a research note. The firm believes the stock’s current valuation underappreciates its fundamental improvements. It thinks a higher multiple is warranted.
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