Valeant Pharmaceuticals (NYSE:BHC) impressed investors today by announcing strong guidance for 2014. The drugmaker expects earnings and revenue to come in about 40% higher than the previous year. Shares climbed as much as 10% in trading, hitting a new 52-week high.

Tim Hanson of Motley Fool Asset Management likes Valeant's lofty aspirations. He sees the company increasing cash flow by integrating its purchase of Bausch & Lomb, while revenue growth will likely come from new pharmaceutical products as well as another successful acquisition. 

However, Tim thinks the stock looks a little pricey at the moment. Furthermore, Valeant depends on acquisitions for growth, and though it boasts a good track record there, that's not always guaranteed.

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. We’re motley! Questioning an investing thesis -- even one of our own -- helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.