UPDATE: Citadel Initiates Coverage on Forest Laboratories

Citadel Securities has published a report on Forest Laboratories (NYSE: FRX) initiating coverage on the medicine developer.

In the report, Citadel wrote, "We believe Forest revenue growth from fiscal 2013 to fiscal 2016 will be dependent on successful launches of recently approved drugs Teflaro, Daliresp, and Viibryd. The success of these drugs, combined with modest gains in Savella and Bystolic sales, could potentially offset revenue declines of Lexapro and Namenda."

Citadel rated Forest Laboratories a Neutral with a price target of $36.00. Forest Laboratories closed Friday at $33.72.