Forest Laboratories "outperform," estimates reduced

01/10/07 - Credit Suisse

NEW YORK, January 11 (newratings.com) - Analyst M Goodman of Credit Suisse reiterates his "outperform" rating on Forest Laboratories Inc (FRX), while reducing his estimates for the company. The target price is set to $60.

In a research note published yesterday, the analyst mentions that the company’s earnings are expected to be higher than anticipated in the forthcoming years due to robust sales st its base business. Forest Laboratories is expected to achieve about 11% revenue CAGR during 2007-2011, Credit Suisse adds. The EPS estimate for 2008 has been reduced from $3.15 to $3.12 to reflect the upcoming launch of generic Levothroid.