UPDATE: Piper Jaffray Lowers PT to $87 on Allergan

A report from Piper Jaffray reiterates its Neutral rating and lowers its price target from $89 to $87 on Allergan

. The report states, “…cautious management commentary on the aesthetics business in North America reinforces our view that AGN shares are nearly fully valued. Our price target is now $87, down from $89, reflecting slight downward revisions to our EPS estimates." AGN closed yesterday at $86.96.