JAZZ - Jazz Pharmaceuticals: Long-Term Prospects Jazz Up A Modest Upside

• Despite the groundbreaking announcements in the recent past, JAZZ’s YTD performance lags the broader market.
• Though recent product launches could hurt the margins, they warrant an upgrade to revenue outlook in light of historical trends.
• Our conservative estimates for the year with the current forward trading multiple indicate only a modest premium.
• As the company counters competition and diversifies the top line, generating a series of catalysts along the way, we turn ‘Bullish’ on the stock.

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