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Fly News Breaks for September 20, 2017
AGN
Sep 20, 2017 | 08:06 EDT
As previously reported, Morgan Stanley analyst David Risinger downgraded Allergan to Equal Weight from Overweight, explaining that he previously projected growth above the average of its Major Pharma peers, but he now has less conviction in its pipeline catalysts, sees more Restasis patent risk and he no longer expects margin expansion because high gross margin products face generic pressures. The analyst lowered his longer-term margin assumptions for Allergan and cut his price target on the stock to $228 from $284.
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