UPDATE: Cantor & Fitzgerald Initiates Buy, $50 PT on Endo Pharmaceuticals Holdings

Cantor & Fitzgerald initiates its coverage on Endo Pharmaceuticals Holdings (NASDAQ: ENDP) with a Buy rating and a price target of $50 on the resilience of the business.

Cantor & Fitzgerald notes, "With the diversification of its revenue streams across branded pharmaceuticals, generics, devices and services, we believe that Endo management has been able to create a stable organization that is capable of withstanding periodic downturns in the individual segments. We see double-digit growth opportunities within the generics unit from capacity expansion and increased efficiencies, and steady single-digit growth from devices and services. The pharmaceuticals unit is the biggest wild card with the pending entry of generic Lidoderm, but we believe that this event is already in consensus estimates, and settlement news could present upside."

ENDP closed at $36.01 a share on Thursday.