In a report released yesterday, Susan Anderson from Canaccord Genuity maintained a Buy rating on Perrigo Company, with a price target of $40.00.
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Susan Anderson’s rating is based on Perrigo Company’s strategic execution and growth prospects. The company’s “Three S” strategy, which focuses on stabilizing, streamlining, and strengthening the business, is progressing well. Perrigo has successfully exited lower-margin contracts, leading to net gains in store-branded contracts. Additionally, initiatives like Project Energize and the Supply Chain Reinvention Program are contributing to operational and cost improvements.
Furthermore, the recovery in the infant formula segment, although slower than anticipated, is underway with expectations of significant growth in the latter half of the year. Perrigo’s efforts to expand their SKU offerings in the infant formula market present opportunities for market share recovery. Outside of infant formula, Perrigo’s store-branded OTC and branded businesses are showing strong performance, with notable gains in market share and consumer loyalty. These factors collectively support the Buy rating for Perrigo Company.
In another report released on August 7, J.P. Morgan also maintained a Buy rating on the stock with a $35.00 price target.
PRGO’s price has also changed slightly for the past six months – from $24.300 to $23.070, which is a -5.06% drop .