Citigroup (NYSE: C) set a $23.00 price target on Endo Pharmaceuticals (Nasdaq: ENDP) and maintained its “hold” rating on the company.
Citigroup wrote, “We Believe the Impact of US Healthcare Reform Could Reduce Endo Sales by $10M-$12M (<1% of sales) on Endo’s 2010 sales, mainly from sales of Lidoderm & other branded products. We estimate the EPS impact of health care reform $0.04-$0.05 (1.0%-1.5%), which should be partially mitigated through ongoing cost-savings initiatives & price increases (PI’s).”
Endo Pharmaceuticals closed down 0.65% on Monday, ending at $22.81
