Actavis Downgraded to “Market Perform” at Wells Fargo (ACT)
Wells Fargo cut shares of Actavis (NYSE: ACT) from an outperform rating to a market perform rating in a research report sent to investors on Monday morning, TheFlyOnTheWall.com reports. The analysts noted that the move was a valuation call.
ACT has been the subject of a number of other recent research reports. Analysts at TheStreet downgraded shares of Actavis to a hold rating in a research note to investors on Thursday, March 14th. Separately, analysts at Morgan Stanley reiterated an overweight rating on shares of Actavis in a research note to investors on Tuesday, March 12th. Finally, analysts at Sanford C. Bernstein reiterated an outperform rating on shares of Actavis in a research note to investors on Wednesday, February 20th. They now have a $99.00 price target on the stock.
Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average price target of $94.20.
Shares of Actavis (NYSE: ACT) opened at 89.80 on Monday. Actavis has a 52 week low of $57.45 and a 52 week high of $92.33. The stock’s 50-day moving average is currently $86.. The company has a market cap of $11.479 billion and a P/E ratio of 118.16.
Actavis Inc., formerly Watson Pharmaceuticals, Inc., is an integrated global pharmaceutical company engaged in the development, manufacturing, marketing, sale and distribution of generic and brand pharmaceutical products.
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