Canaccord Maintains Buy on Perrigo (PRGO) While Cutting Price Target to $20

Core Insights - Perrigo Company plc (NYSE:PRGO) is recognized as one of the 15 Best 52-Week Low Dividend Stocks to Invest in [1] - Canaccord has maintained a Buy rating on Perrigo while reducing its price target from $40 to $20, citing weaker-than-expected sales despite Q3 results beating expectations [2] - The company reported Q3 2025 revenue of $1.04 billion, a decline of 4.06% year-over-year, with operating income decreasing to $73 million from $80 million [3] Financial Performance - Q3 2025 revenue was $1.04 billion, down 4.06% compared to the same quarter last year [3] - Operating income for Q3 2025 was $73 million, a decrease from $80 million in the previous year [3] - The company experienced soft over-the-counter (OTC) consumption but gained market share in five of seven store-brand categories [3] Strategic Developments - Perrigo announced a strategic review of its infant formula business, focusing on higher-margin branded products due to challenges with quality issues and contamination risks in manufacturing [4] - The company is a leading supplier of store-brand baby formula, which is sold at lower prices compared to branded options [4] Company Overview - Perrigo is a leading consumer health company with over a century of experience in delivering high-quality health and wellness solutions, primarily in North America and Europe [5]