UPDATE: Deutsche Bank Lowers Target on Allergan to $95

Deutsche Bank maintains its Buy rating on Allergan (NYSE: AGN) on the company's broad diversification and adjusts down its price target by $2 to $95 a share.

Deutsche Bank says, "Allergan has established itself as a premier global company in eye and skin care pharmaceuticals, as well as medical aesthetics. We remain impressed with its broad diversification across products and geographies and its mix of reimbursed versus cash-pay businesses."

AGN closed at $95 a share yesterday.