PRGO - Perrigo a new buy at Canaccord Genuity with focus on self-care products cost savings
2023-03-07 12:27:30 ET
- Canaccord Genuity has initiated Perrigo ( NYSE: PRGO ) with a buy rating saying that the company's new focus on self-care products, notably private-label over the counter meds, is a positive along with synergies and cost savings.
- The firm has a $39 price target (~33% upside based on Monday's close).
- Analyst Susan Anderson said she sees high-teens EPS growth over the next few years.
- She added that given the current state of the macro environment, private-label products are more appealing to consumers.
- Also, the stock currently trades at a discount to peers (12.6x PE vs. 17.4x peer average), making the current price an attractive entry point.
- Seeking Alpha's Quant Rating views Perrigo ( PRGO ) as a hold with high marks for growth and profitability .
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Perrigo a new buy at Canaccord Genuity with focus on self-care products, cost savings