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Fly News Breaks for April 13, 2016
HZNP
Apr 13, 2016 | 07:10 EDT
UBS analyst Marc Goodman noted that stocks "don't usually act well" when management back-end loads guidance more than investors were expecting, as was the case yesterday with Horizon Pharma, but he believes the 23% pullback following the outlook was an overreaction. Goodman said he was surprised by the extreme reaction since the company overall numbers didn't change that much. He lowered his price target on Horizon to $24 from $39 but keeps a Buy rating on the shares.
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