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Fly News Breaks for May 15, 2018
PRGO
May 15, 2018 | 07:21 EDT
Canaccord analyst Dewey Steadman said the delay of Perrigo's generic ProAir is disappointing, but the company's diversification keeps the thesis intact. The analyst said he was impressed with the speed of disclosure of the expected CRL, but he believes the drug will not be coming in Q4 as expected. He has adjusted his model for a 2020 launch and has faith in the company's ability to deliver and grow revenues. Steadman reiterated his Buy rating and $105 price target on Perrigo shares.
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