Jazz Pharmaceuticals upgraded to Buy from Neutral at UBS

UBS upgraded Jazz Pharmaceuticals (JAZZ) to Buy from Neutral with a price target of $179, up from $145. The company’s base business strength and Ziihera pipeline catalysts boost confidence that the stock warrants a higher multiple, the analyst tells investors in a research note. The firm believes Ziihera can generate “attractive data” in the Phase 3 gastroesophageal adenocarcinoma study in the second half of 2025, while Jazz’s sleep franchise will prove more durable through competitive updates in the back of the year. Better than expected operating results and a renewed focus on “shareholder-friendly” capital deployment suggest Jazz shares should work over next 12 months, especially in a risk-off environment that supports value names, contends UBS.