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Fly News Breaks for May 19, 2017
AGN
May 19, 2017 | 07:18 EDT
JPMorgan analyst Chris Schott recommends using the 8% pullback in Allergan shares since the company's Q1 earnings report as a buying opportunity. While 2016 results were "messy" due to the divestiture of its generics business, Allergan's results will "become increasingly less controversial" throughout 2017, Schott tells investors in a research note. And he sees potential for multiple expansion ahead of "several meaningful pipeline catalysts" in 2018. The analyst has an Overweight rating on Allergan with a $300 price target.
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