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UPDATE: Allergan Upgraded by Citigroup on Strong Fundamentals

Related AGN
Pershing Square Submiterd Additional Special Meeting Requests On Friday, Total Submitted Represents 35.68% Of Allergan Shares
Allergan Comments On Pershing Square's Delivery Of Additional Requests From Stockholders Owning 1.5% Of Allergan's Shares
Allergan to Slash 13% of its Global Workforce (Fox Business)

Tuesday morning rating updates include an upgrade from Citigroup analyst Liav Abraham, boosting Allergen (NYSE: AGN) from Neutral to Buy, with a price rating of $130 from $95.

Citigroup is sold on Allergan's long-term growth with strong balance sheet and cash flow to back up their rating change. The report notes, "Following the recent removal of the Restasis and Lumigan overhangs, the fundamental risk-reward profile of AGN has shifted, in our view, with the stock offering the most attractive organic growth profile amongst the peer group, along with significant balance sheet optionality."

AGN is currently trading up around the $114 mark after closing Monday at $112.26.

Latest Ratings for AGN

DateFirmActionFromTo
Sep 2014ISI GroupInitiates Coverage onBuy
Aug 2014Leerink SwannUpgradesMarket PerformOutperform
Jul 2014UBSUpgradesNeutralBuy

View More Analyst Ratings for AGN
View the Latest Analyst Ratings

Posted-In: Citigroup Liav AbrahamUpgrades Price Target Analyst Ratings

 

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