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Fly News Breaks for June 17, 2019
ENDP
Jun 17, 2019 | 07:02 EDT
Citi analyst Liav Abraham downgraded Endo International to Neutral from Buy and lowered her price target for the shares to $5 from $19. While acknowledging the improvement in Endo's underlying business over the past couple of years, the analyst says she "cannot ignore the headwinds" associated with the company's opioid-related litigation. The pathway towards resolution of this issue remains unclear, Abraham tells investors in a research note. Further, the analyst believes "near-term catalysts are unlikely to favor the defendants."
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