Warner Chilcott "outperform," target price raised

08/13/07 - Credit Suisse

NEW YORK, August 13 (newratings.com) - Analysts at Credit Suisse maintain their "outperform" rating on Warner Chilcott Ltd (WCRX), while raising their estimates for the company. The target price has been raised from $19 to $21.

In a research note published this morning, the analysts mention that the company has reported its 2Q cash EPS ahead of the estimates and the consensus. Warner Chilcott’s Loestrin 24 Fe and Taclonex products posted robust revenues for the quarter, the analysts say. The company has raised its EPS guidance for 2007 from $0.94-$0.96 to $1.00-$1.02 due to an increase in the sales forecasts. The EPS estimates for 2007 and 2008 have been raised from $0.94 to $1.02 and from $1.21 to $1.23, respectively.