AGN Downgraded to Neutral at Credit Suisse

Tuesday, June 3, 2014,

stock was Downgraded to Neutral from Outperform by Credit Suisse due to a balanced risk/reward profile following the latest takeover offer from

. Stating that the latest Valeant Pharmaceuticals International offer warrants consideration, Credit Suisse analyst Vamil Divan says completion of this deal may require a price closer to $190-200/share. The latest offer from Valeant Pharmaceuticals International puts the price around $183/share, excluding the contingent value rights of up to $25/share, which is close to what Divan believes Allergan shareholders are looking for. Divan notes risk to Allergan stock could arise if Valeant Pharmaceuticals International walks away. Allergan shares were down 1 percent to 170.60 from the previous day close at 172. 25. Valean Pharmaceuticals shares were also down by 0.63 percent to 133.32 from the previous day close of 134.17 at 10:25AM EDT.