Perrigo (PRGO): Cutting Ests, Consensus Too Aggressive - RBC

RBC Capital analyst, Randall Stanicky, cut estimates on Perrigo Co. (NYSE: PRGO) ahead of the quarter after revisiting the PRGO model on the back of a broader generic sector revisit. New launch activity is limited this year and he thinks Street/guidance forecasts for PRGO's generics segment are too aggressive.

The analyst cut estimates to more realistic new generic launch assumptions against more conservative gross margin forecasts. Price target moves lower to $107 from $109 on new EPS. No change to Sector Perform rating.

For an analyst ratings summary and ratings history on Perrigo Co. click here. For more ratings news on Perrigo Co. click here.

Shares of Perrigo Co. closed at $93.67 yesterday.

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