It's time for investors to buy the dip on Jazz Pharmaceuticals , according to Goldman Sachs. The investment bank initiated coverage of the pharmaceuticals stock with a buy rating, setting a 12-month price target of $169. That forecast implies shares could rally nearly 62% from their Tuesday closing price of $104.48. Jazz Pharmaceuticals has slipped 15% this year. Analyst Andrea Tan thinks that this underperformance has now opened up an attractive entry point for investors.
mountain JAZZ year to date "JAZZ is currently trading at a relatively higher discount to the S & P 500 on a basis, suggesting the market is pricing in a high degree of uncertainty over future earnings power due to questions on sustainable revenue growth given competitive threats to the commercial business, particularly the potential decline to the oxybate business," she wrote.
Source: News Formal (newsformal.com)
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