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Fly News Breaks for April 12, 2016
BXLT, SHPG
Apr 12, 2016 | 07:14 EDT
Jefferies analyst David Steinberg believes Shire's (SHPG) standalone fundamentals remain strong and that the stock looks inexpensive at current levels. With or without Baxalta (BXLT), Shire looks well positioned entering the second half of 2016, Steinberg tells investors in a research note. The analyst believes the shares have been "overly punished" on potential competitive threats to Baxalta's $3.8B hemophilia business. He sees any erosion to Baxalta's hemophilia franchise as manageable and keeps a Buy rating on Shire.
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