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Fly News Breaks for May 31, 2016
AGN
May 31, 2016 | 12:08 EDT
After Carl Icahn disclosed a large position in the name, Wells Fargo analyst David Maris says he believes Allergan has shown a "strong intention for shareholder value." The closing of the Teva (TEVA) transaction "will begin a new period for investor sentiment" around Allergan with focus moving to the company's pipeline and existing franchises, Maris tells investors in a research note. The analyst thinks the shares are "well positioned for growth." Maris keeps an Outperform rating on Allergan with a $286-$290 price target range.
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