UPDATE: Stifel Nicolaus Reiterates Buy Rating, Raises PT on Perrigo Company Following Elan Acquisition - Perrigo (NYSE:PRGO)

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In a report published Tuesday, Stifel Nicolaus analyst Annabel Samimy reiterated a Buy rating on

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Perrigo Company

(NYSE: PRGO), and raised the price target from $125.00 to $145.00.In the report, Stifel Nicolaus noted, “Perrigo is acquiring Irish-domiciled Elan for $8.6bn ($16.50/share, cash and equity) to gain a low-tax platform for international expansion. Elan brings a long-duration Tysabri royalty stream, Phase II R&D asset for outcome-dependent monetization or termination, and strong cash flow without stretching PRGO's balance sheet (investment-grade debt