UPDATE: Citigroup Initiates Jazz Pharmaceuticals at Buy; Expecting Settlement to Remove Overhang
Posted on November 27, 2012 at 13:57 PM EST
Citigroup initiated coverage on Jazz Pharmaceuticals (NASDAQ: JAZZ ) with a Buy rating and a $70 price target. Citigroup commented, "We see a high probability (~≥75%) of either a settlement or win for JAZZ around the ongoing litigation with Roxane over narcolepsy drug Xyrem. While we believe JAZZ