Amneal Pharmaceuticals initiated with a Buy at UBS

UBS analyst Ashwani Verma initiated coverage of Amneal Pharmaceuticals (AMRX) with a Buy rating and $19 price target The recent share selloff on the macro environment provides attractive entry point for Amneal’s “best-in-group growth profile,” the analyst tells investors in a research note. UBS believes the stock’s valuation suggests the market is discounting only modest and gradual revenue growth. It believes Amneal’s specialty growth driven by its Parkinson’s products and emerging franchises warrants a premium multiple.