Market Overview

UPDATE: Canaccord Genuity Initiates Coverage on Allergan with Hold Rating, $101 PT

Share:
Related AGN
Valeant CEO On Allegations Against The Company And Future M&A Deals
What Investors Are Expecting Ahead Of Multiple Nektar Therapeutics Catalysts
Energy Sector Seen as Biggest Risk to Deal Flow in 2015 (Fox Business)

In a report published Wednesday, Canaccord Genuity initiated coverage on Allergan (NYSE: AGN) with a Hold rating and $101.00 price target.

Canaccord Genuity noted, “It's hard not to like Allergan, and we do. However, we're launching on the stock with a HOLD rating and $101 price target, choosing to wait for a better entry point. The short-term concerns that have plagued the stock are largely assuaged, but there are two primary things that hold us back: (1) our below-consensus forecasts, and (2) lack of meaningful catalysts near term. We view valuation as reasonable but not enough to drive a BUY rating on its own. We've delved deeper into these and other primary areas of debate in the stock.”

Allergan closed on Tuesday at $89.84.

Latest Ratings for AGN

DateFirmActionFromTo
Dec 2014Goldman SachsDowngradesBuyHold
Dec 2014Stifel NicolausDowngradesBuyHold
Dec 2014CitigroupMaintainsBuy

View More Analyst Ratings for AGN
View the Latest Analyst Ratings

Posted-In: Canaccord GenuityAnalyst Color Initiation Analyst Ratings

 

Related Articles (AGN)

Around the Web, We're Loving...

Get Benzinga's Newsletters