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UPDATE: Morgan Stanley Reiterates On Perrigo Company Following Solid Analyst Day

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Argus Sees Perrigo Going Lower After CEO Exit, Guidance Cut

In a report published Monday, Morgan Stanley analyst David Risinger reiterated an Overweight rating on Perrigo Company (NYSE: PRGO), but removed the $167.00 price target.

In the report, Morgan Stanley noted, “Double-digit EPS growth looks durable. Perrigo hosted a comprehensive business review and outlook on Feb. 28...We were pleased that CEO Papa reiterated the company's commitment to long-term organic rev growth of 5-10% and EPS growth of 10-20%. And CFO Judy Brown characterized the Tysabri 50% royalty step-up after May 1 as a short-term booster.”

Perrigo Company closed on Friday at $164.44.

Latest Ratings for PRGO

DateFirmActionFromTo
Jun 2016Argus ResearchDowngradesBuyHold
May 2016JefferiesMaintainsHold
Apr 2016BarclaysMaintainsOverweight

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Posted-In: David Risinger Morgan StanleyAnalyst Color Price Target Analyst Ratings

 

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