UPDATE: Deutsche Bank Lowers Perrigo's PT

According to a research report published this morning, Deutsche Bank has lowered Perrigo's

PT from $103 to $101. In the report, Deutsche Bank said, "There is much to like about Perrigo. It 1) is the dominant player in its primary market with no significant competitor, 2) has a sustainable, diversified revenue stream with strong cash flows, and 3) has a sound multi-prong strategy for long-term growth. However, both its historically high multiple and premium to forward growth appear to reflect these factors. And the co has now posted three consecutive “soft” quarters in its Consumer business. Thus, we maintain our Hold rating." Perrigo closed yesterday at $100.00.