Susan Anderson, an analyst from Canaccord Genuity, maintained the Buy rating on Perrigo Company (PRGO – Research Report). The associated price target remains the same with $42.00.
Susan Anderson’s rating is based on several positive developments for Perrigo Company. The recent announcement of Operation Stork Speed by the U.S. Department of Health and Human Services and the FDA is expected to benefit Perrigo, as it aligns with their current compliance with stringent guidelines, including testing for heavy metals. This initiative is likely to favor U.S.-based manufacturers like Perrigo, potentially reducing competition from international companies that do not meet these standards.
Furthermore, Perrigo’s efforts to regain market share in the infant formula sector are showing promising signs. The company has seen a recovery in its market share on a volume basis, and management has committed to investing significantly in the business over the coming years. With plans to increase product offerings and improve financial performance, Perrigo is positioned to enhance its market presence, supporting the Buy rating given by Susan Anderson.
Anderson covers the Consumer Cyclical sector, focusing on stocks such as Inter Parfums, The Estée Lauder Companies, and e.l.f. Beauty. According to TipRanks, Anderson has an average return of 16.2% and a 43.29% success rate on recommended stocks.