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Fly News Breaks for August 5, 2015
MYL, PRGO
Aug 5, 2015 | 09:48 EDT
BMO Capital analyst David Maris says Perrigo (PRGO) did what it had to do by reporting strong Q2 results. The stock should react positively to the results, which would further widen the deal spread to Mylan's (MYL) approximately $205 per share bid, Maris tells investors in a post-earnings research note titled "2Q Beat Loads the Bases." A share rally will prompt Mylan to either raise its bid or walk away, the analyst believes. He keeps an Outperform rating on the name with a standalone value price target of $246.
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