Barr Pharmaceuticals "strong buy," target price raised

09/09/05 - First Albany

NEW YORK, September 9 (newratings.com) - Analyst Adam Greene of First Albany maintains his "strong buy" rating on Barr Pharmaceuticals Inc (BRL), while raising his estimates for the company. The target price has been raised from $56 to $66.

In a research note published this morning, the analyst mentions that the company reported its 4Q05 EPS ahead of the estimates on account of one-time gains and lower-than-expected tax charges. The analyst expects Barr Pharmaceuticals' performance to be robust in FY06 due to the recent launch of the company's major products DDAVP, Videx EC and Allegra. The EPS estimate for FY06 has been raised from $2.96 to $3.03.