UPDATE: Morgan Stanley Raises Allergan's PT

In a research report published today, Morgan Stanley increased Allergan Inc.'s (NYSE: AGN) PT from $90 to $98 based upon its extending model to 2020E.

“We expect Allergan management to communicate a strong pipeline at its March 28 analyst day. The pipeline should extend the duration of strong EPS growth later this decade,” Morgan Stanley commented in the report.

Morgan Stanley maintains its Overweight rating on Allergan, which closed yesterday at $87.25.