Forest cut to hold by Jefferies

Jefferies & Co., Inc. analyst David Windley downgraded Forest Laboratories, Inc. to a hold rating and maintained his price target at $54. While the stock has appreciated since Forest prevailed in the Lexapro patent case, the company lacks catalysts to meaningfully propel it further, according to the analyst, with mixed market expectations around faropenem. Shares of the New York City-based pharmaceutical company were down $1.69, or 3.20%, at $51.19. (NYSE: FRX)

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