In a report released yesterday, Susan Anderson from Canaccord Genuity maintained a Buy rating on Perrigo Company, with a price target of $42.00.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Susan Anderson’s rating is based on Perrigo Company’s recent strategic organizational updates aimed at optimizing its business operations. The company is implementing its Three-S’ plan, which focuses on stabilizing, streamlining, and strengthening its operations. This plan is expected to enhance decision-making speed and unlock opportunities within its brand portfolio across various price points.
Additionally, Perrigo has reiterated its FY25 guidance, projecting stable to moderate sales growth despite the volatile consumer environment. The company’s commitment to maintaining its guidance is seen as a positive indicator, especially given the challenges in certain self-care categories. Furthermore, Perrigo’s efforts to streamline its business for sustainable growth, leverage its existing growth model, and align leadership for execution excellence have contributed to the Buy rating recommendation.
Based on the recent corporate insider activity of 30 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of PRGO in relation to earlier this year.