UPDATE: Canaccord Genuity Raises PT on Perrigo on Attractive Medium-Term Opportunities

In a report published Tuesday, Canaccord Genuity analyst Randall Stanicky raised the price target on Perrigo (NASDAQ: PRGO) from $128 to $140, reaffirming its Buy status.

In the report, Canaccord Genuity observed, “While it feels like there has been more limited interest in the stock this year, we continue to see an attractive path into first time fiscal 2014 guidance in mid August. The combination of several near-term catalysts, a still undemanding valuation and reasonable hurdle to outlook leaves an attractive set-up near term. But we also see a building of attractive medium-term opportunities (2016-2017) that we think can bring a valuation premium back to the name.”

Perrigo closed on Monday at $124.23.