02:40 PM EDT, 05/09/2024 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We keep our 12-month target price at $13, reflecting a 2025 P/E of 4.7x, a discount to VTRS's historical forward average, due to our forecasts of a lower growth rate than historical. We reduce our adjusted EPS estimate by $0.06 to $2.74 in 2024 and by $0.12 to $2.78 in 2025. VTRS reported Q1 adjusted EPS of $0.67 vs. $0.77, in line with the S&P Capital IQ consensus estimate with organic sales growth of 2% Y/Y driven by strength in emerging markets, Europe, and JANZ, as well as better-than-expected new product revenue of $154 million in the quarter. We anticipate 2024 full-year organic revenue growth of 2% (or -2% including divestitures), with new product revenue in the range of $450 million-$550 million due to strong uptake of Breyna (treats asthma and chronic obstructive pulmonary disease) and other new product launches. VTRS reaffirmed its 2024 financial guidance, though we believe the marker was anticipating raised guidance, contributing to the ~5% decline in today's share price.