Concordia Healthcare Corp. T.CXR.R

RE:RE:"From Bad to Worse"

[TraderBen]

Likely Concordia will drop in sympathy.  Or drop because they are both sewers.  ...Whatever...

Iattice wrote: Apologies, should have posted this on Big Brother's bullboard,as Ackman is exiting his position on VRX

Iattice wrote: Wells sees Pershing sale as Valeant going 'from bad to worse' Investors are likely to see Pershing Square's sale of Valeant Pharmaceuticals shares at around $11 as a sign that the company's turnaround will take longer than expected or is not possible, Wells Fargo analyst David Maris tells investors in a research note. The analyst also believes investors will view the news as an indication that Valeant's outlook is negative, the potential for meaningful near-term asset sales is unlikely and that the drugmaker's legal proceedings/investigations may have greater risk than the Street is appreciating. With its largest shareholder and one of its most vocal supporters selling its stake near the low for the past 10 years, things are continuing to go "from bad to worse" for Valeant, Maris argues. He continues to have an Underperform rating on the stock with a $10-$13 price target range. Valeant traded down 10%, or $1.18, to $10.93 following the post-close news that Bill Ackman's Pershing is shedding its 27M share position.

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