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Fly News Breaks for April 7, 2016
PFE, AGN
Apr 7, 2016 | 07:49 EDT
UBS lowered its price target on Allergan (AGN) to $300 from $366 as they updated their model for it to be a standalone company after its merger with Pfizer (PFE) was called off. The firm said Allergan is once again one of their favorite names despite having trouble deciding what other companies are the right comps. UBS said management now has more financial flexibility to drive earnings higher. UBS reiterated its Buy rating on Allergan shares.
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