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Fly News Breaks for December 22, 2016
PDLI
Dec 22, 2016 | 05:57 EDT
Piper Jaffray analyst Charles Duncan resumed coverage of PDL BioPharma with an Overweight rating and $4 price target. Piper had a Neutral rating on the shares when it discontinued coverage in April of 2014. The analyst views PDL as a "differentiated and diversified holding company biopharma business model." Duncan sees "multiple avenues for outsized investor returns" over the next 12-plus months.
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