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Fly News Breaks for May 7, 2015
GEVA, ALXN
May 7, 2015 | 06:27 EDT
Citigroup believes Alexion's (ALXN) acquisition of Synageva (GEVA) makes "very good strategic sense," but it finds the premium paid "rather steep." Further, Citi says the deal "very much removes the chance" that Alexion will get acquired. It lowered its price target for shares to $173 from $208 and keeps a Neutral rating on the stock.
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