Goldman Raises Earnings Estimates And Price Target On Allergan (AGN)


27% profit every 20 days?

This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.


Goldman Sachs is raising its earnings outlook and price target on Allergan, Inc. (NYSE: AGN), after the company received approval for Botox to treat migraine headaches. It moved the price target up to $84, and still has shares on America's Buy List.In a note to clients, Goldman writes, "The approval comes ahead of the expected late October FDA action date and November 1st 3Q results. Bottom line, while we had anticipated a positive result, Friday's approval is a clear positive and does three things: (1) will drive Street EPS higher as forecasts become un-risk adjusted (our 3-year CAGR moves to 19% from 17%); (2) make AGN more attractive as a potential take-out candidate (consistent with M&A potential built into our price target) given what we believe will be an attractive high barrier, high growth product opportunity; (3) shift focus to Botox for use in over-active bladder (OAB) which is set to be the next big opportunity in 2011 and beyond."Shares of AGN are up $2.88 in early Monday trading to $71.74.

27% profit every 20 days?

This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.


ENTER TO WIN $500 IN STOCK OR CRYPTO

Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!

Posted In: Analyst ColorPrice TargetAnalyst RatingsAmerica's Buy ListGoldman SachsHealth CarePharmaceuticals