Valeant Pharmaceuticals (VRX) Stock Surges Today as Analyst Ups Price Target on Salix Deal

NEW YORK (TheStreet) -- Shares of Valeant Pharmaceuticals International are surging in morning trading today, up 14.05% to $197.60, as Cantor Fitzgerald raises its price target to $214 from $184 after the Canadian company agreed to buy Salix Pharmaceuticals   for $158 a share in a cash deal valued at $14.5 billion. "We maintain our 'buy' rating and raise our price target to incorporate our Salix accretion assumptions along with our interest expense estimates. Valeant expects to achieve cost sy...