Jefferies analyst Glen Santangelo upgraded Viatris to Buy from Hold with a price target of $15, up from $13, after management "laid out a clear roadmap and strategic update" in conjunction with Q3 results, closed the Biocon transaction was on November 29 and acquired two ophthalmology companies. The firm’s updated estimates better reflect the impact from Biocon, recent M&A, planned non-core asset sales, business development and share repurchases and given the pro forma estimates for 2024, the pro forma valuation "paints a new picture," the analyst tells investors.
Published first on TheFly
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