Merrill raises Endo price target to $35

Endo Pharmaceuticals Holdings Inc. was reiterated by Merrill Lynch analyst David Windley at a buy rating and the price target was raised to $35 from $31 after the company delivered a healthy 44% return in 2005. Its pipeline should gain increasing recognition among investors this year, eliminating the discount versus its specialty pharmaceutical peers. Shares of the Chadds Ford, Pa., specialty pharmaceutical company were up 77 cents, or 2.54%, at $31.03 on volume of 980,810 shares versus the three-month running average of 1,341,420 shares.

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