Guggenheim Reiterates Buy on Endo Int'l (ENDP) Following 4Q Beat

Guggenheim reiterated a Buy rating and $35.00 price target on Endo International plc (NASDAQ: ENDP) following the company's 4Q earnings report. ENDP reported 4Q16 adjusted EPS of $1.77, $0.14 higher than consensus. Management gave '17 EPS guidance of $3.45-$3.75, midpoint $3.60 (consensus was $4.27).

Analyst Louise Chen commented, "ENDP reported a 4Q16 beat and guided down for '17, which was expected given pricing pressure in generics. Lack of earnings visibility in '18 remains a concern. That said, we think patience will be rewarded and execution against its stated objectives will drive multiple expansion for ENDP's stock toward our $35 PT. Also, ENDP continues to be open to strategic alternatives if it cannot enhance shareholder value on its own. We think ENDP could simplify its business by selling its brand assets to pay down debt. In our view, ENDP is also an interesting generics asset (#4 player) in a consolidating industry."

For an analyst ratings summary and ratings history on Endo International plc click here. For more ratings news on Endo International plc click here.

Shares of Endo International plc closed at $13.29 yesterday.

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