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Company News

BUZZ-Valeant: Set for best 4-day winning streak since April

** Canadian drugmaker’s U.S.-listed shares up 8 pct at $15.25, set for best 4-day winning streak since April

** Some analysts saw early signs of recovery as VRX posted better-than-expected quarterly profit on Tuesday

** TD Securities upgrades to “Buy” from “Hold” on indications of a positive inflection in VRX’s operating momentum, adding company’s earnings potential could emerge from the shadows of balance sheet concerns and litigation risks

** Not all analysts agree, Piper Jaffray said with net debt/2017 EBITDA at 7x and EV/2017 EBITDA of 8x, VRX shares are not well positioned for recovery for the foreseeable future

** On the back of 4-day gains VRX has wiped off YTD losses and is up 3 pct this year, still 25 pct off its 52-week high of $18.71 it touched on Nov. 14, 2016

** Valeant’s Toronto-listed stock trading at C$19.05 (Reporting by Ankur Banerjee in Bengaluru)

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