Firstly, I’d like to acknowledge the excellent work of Citron for calling the bear case on this before anyone else. The stock has fallen 200 points from its peak and it looks like things are entering the final stages of the prolonged drama.
In light of recent events, the fucktards at Deutsche Bank are suspending coverage on the stock, because they haven’t the slightest clue of what the hell they are doing.
Via Briefing.com
Valeant Pharma: Suspends coverage following 10-K delay, removal of ’16 guidance — Deutsche Bank
Following co’s decision to delay in filing its 10-K, Deutsche Bank suspends coverage on prior Hold rated VRX. Firm has long been skeptical of the VRX business model that had formerly depended heavily on fast-paced acquisitions, aggressive cost cutting, tax arbitrage, aggressive US price increases, and a heavy debt load. As co transitions to more of an “organic” execution and de-leveraging story, it will become increasingly important, if not crucial, to be able to track co’s financial performance. With the stock having sold off significantly, and with some other analysts having become more cautious, they would acknowledge that the risk/reward profile of the stock has become more interesting.
Today’s downward move equates to another jaw dropping $100 million loss for Pershing Square.
lolz DB they should go sit with C and BCS
Like I says before, $35 price target. Everyone needs to get flushed out of this.
Ackman appears ‘antiqued’ in that cover pic. The life force is being thoroughly drained from this chap.