27% profits every 20 days?
This is what Nic Chahine averages with his options 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.
Expressing positivity regarding the long-term growth opportunities for Allergan plc Ordinary Shares (NYSE: AGN), Argus’ David Toung mentioned the company’s growth was expected to be driven by its key franchises, other aesthetic products, eye care solutions and gastrointestinal drugs.
Toung maintained a Buy rating on the company, with a price target of $340.
Positive View
The analyst believes that through its recent M&A deals, Allergan has acquired clinical stage assets and R&D programs that would complement the company’s core business and add to its pipeline products in two of Allergan’s seven primary therapeutic areas.
In addition, the divesture of the generics business is expected to provide cash that the company can then redeploy strategically.
“Excluding divestitures and the effects of products that have lost exclusivity (Namenda IR), AGN delivered 9 percent revenue growth in its branded products business in 2Q16,” Toung went on to say.
The analyst also pointed out that the company has earmarked $10 billion for share buybacks and another $10 million for debt reduction.
Estimates Revised
“To account for the divestiture of the generics business and the pending divestiture of the Anda distribution business, we are revising our adjusted EPS estimates,” Toung stated.
The EPS estimates for 2016 and 2017 have been lowered from $14.70 to $14.05 and from $17.80 to $17.20, respectively.
27% profits every 20 days?
This is what Nic Chahine averages with his options 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!