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Fly News Breaks for May 27, 2016
TEVA, AGN
May 27, 2016 | 06:45 EDT
Citi analyst Liav Abraham says Allergan (AGN) remains a favored name amid "lackluster sentiment amongst the specialty pharma group." The analyst views the upcoming close of the divestiture of Allergan generics to Teva (TEVA), which she expects by the end of June, as an important catalyst for the shares. The closure will facilitate commencement of the share buyback as well as incremental bolt-on acquisitions, Abraham tells investors in a research note. She keeps a Buy rating on Allergan with a $285 price target.
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