Barr Pharmaceuticals initiated with "buy"

08/16/04 - Banc of America

NEW YORK, August 16 (New Ratings) - Analysts at Banc of America Securities initiate coverage of Barr Pharmaceuticals (BRL) with a "buy" rating. The 12-month target price is set to $46.

In a research note published this morning, the analysts mention that Barr Pharmaceuticals is a leading global generic drug company, which is also engaged in building a branded drug portfolio. Barr Pharmaceuticals’ share price has recently been under pressure due to market concerns surrounding competitive pressures being witnessed by generic drug companies, the analysts say. The current weakness in Barr Pharmaceuticals’ share price offers an attractive entry point for long-term investors, according to Banc of America Securities.