ENDP Price Target Increased to $48 Thursday, April 14, 3:24 PM ET, by Market News Video Staff Today, Citigroup (C) raised its price target on shares of Endo Pharmaceuticals Inc. (ENDP) from ...
WPI Receives an Upgrade; Watson Large Holding of XPH ETF
By Market News Video Staff, Friday, November 5, 10:48 AM ET
Watson Pharmaceuticals (NYSE:WPI) was upgraded by UBS today to buy from neutral after announcing results yesterday. The firm raised their target price to $59 per share.
Watson had reported that net revenue grew 33% to $882.4 million, compared to $662.1 million in the third quarter 2009.On an adjusted cash basis, net income increased 18% to $105.9 million or $0.85 per share, compared to $90.0 million or $0.78 per share in the third quarter 2009.
The SPDR S&P Pharmaceuticals ETF (AMEX:XPH) counts WPI as a large holding at over 4.5% of the ETF. The iShares Dow Jones U.S. Pharmaceuticals Index Fund (AMEX:IHE) has Watson at 2.84% of its holdings and PowerShares Dynamic Pharmaceuticals Portfolio (AMEX:PJP) is 2.8% WPI.
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