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Fly News Breaks for January 12, 2016
BXLT, SHPG
Jan 12, 2016 | 06:57 EDT
William Blair analyst Tim Lugo lowered his price target for Shire (SHPG) to $210 after the company announced its acquisition of Baxalta (BXLT). Shire will take on $18B in additional debt while the acquisition will make it the largest company in the rare disease space, Lugo tells investors in a research note. He remains positive on Shire's operating performance and keeps an Outperform rating on the name.
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