The Motley Fool: Wall Street Has Taken A Sharp Turn Into Forest Laboratories, Inc.

Institutional investors and sell-side analysts are rather infamous for gnat-like attention spans and the capacity to dramatically change their opinions in relatively short periods of time. So, too, has it been with Forest Labs (NYSE: FRX  ) , though it certainly requires mentioning that Forest Labs has done a lot of work on its own to affect that change of opinion. Forest Labs announced a significant cost-cutting program and then followed it up with the nearly $3 billion purchase of Aptalis, both of which significantly impact the company's long term revenue and margin prospects.

I'm not totally sold on the company's "Project Rejuvenate", nor do I believe that all of the company's "Next Nine" products will live up to management's hopes. With that, I'm a little concerned that investor enthusiasm for the restructuring program at Forest Labs is getting caught up with excitement over similar programs at AstraZeneca, Valeant (NYSE: VRX  ) , Endo, and Amgen -- and perhaps overdoing things.

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Wall Street Has Taken A Sharp Turn Into Forest Laboratories, Inc.