UPDATE: Sterne Agee Reiterates On Actavis PLC On Good Market Position

In a report published Thursday, Sterne Agee analyst Shibani Malhotra reiterated a Buy rating on Actavis PLC (NYSE: ACT), and raised the price target from $230.00 to $250.00.

In the report, Sterne Agee noted, “We have reevaluated our assumptions regarding the timing and magnitude of the synergies that can be realized from Newco, and we are therefore adjusting our 2014/2015 EPS estimates from $13.50/$16.80 to $13.53/$16.55 and raising our PT to $250 from $230. We recommend buying ACT in front of guidance for the combined company, which we currently expect during the Q2 earnings call in July.”

Actavis PLC closed on Wednesday at $208.25.