Sterne Agee Raises Actavis plc Estimates, Price Target

Following a meeting with Actavis’ management, analysts at Sterne Agee increased the earnings estimates and price target on Actavis plc (NYSE: ACT).

Analyst Shibani Malhotra stated,”we raise the price target from $255 to $272 and remain buyers of Actavis on a fundamental basis.”

Analysts also raised third and fourth quarter 2014 earnings estimates to $3.03 per share and $3.41 per share.

Full year 2014 EPS estimates were raised to $13.25 from $13.02.

In addition, Actavis's Watson Labs Dorzolamide Hydrochloride, Timolol, Maleate ANDA was approved by the FDA.

Shares of Actavis are traded recently at $231.01, up 1.08 percent.