UPDATE: Duncan-Williams Color on Forest Laboratories PT Increase

Duncan-Williams, which

on shares of Forest Laboratories Inc.

, is providing some color on the stock. “In a recent SEC filing Forest disclosed that the Icahn parties held 7.20% of the outstanding common stock (fourth largest shareholder behind Wellington, Vanguard, and BlackRock),” Duncan-Williams writes. “We are hopeful that Mr. Icahn's involvement could result in initiatives such as bigger accretive deals using a levered balance sheet, divestiture of non-core assets accompanied by increased operational efficiencies, or cash returns to shareholders. We think that Icahn's move is timely given the potential opportunity to install a new CEO from outside the company.” Forest Laboratories closed Wednesday at $39.98.