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PRGO

Perrigo

$84.14

-1.88 (-2.19%)

, MKGAY

Merck KGaA

$38.36

(0.00%)

13:27
12/14/17
12/14
13:27
12/14/17
13:27

Perrigo prepping bid for Merck KGaA's consumer health division, Reuters reports

Perrigo (PRGO) is preparing a non-binding bid for Merck KGaA's (MKGAY) $4.7B consumer health business ahead of the December 15 deadline, Reuters reports. According to sources, Perrigo will face competition for the unit from Nestle (NSRGY) and the private equity owners of German drug company Stada. Reference Link

PRGO

Perrigo

$84.14

-1.88 (-2.19%)

MKGAY

Merck KGaA

$38.36

(0.00%)

NSRGY

Nestle

$86.67

0.61 (0.71%)

PRGO Perrigo
$84.14

-1.88 (-2.19%)

12/08/17
12/08/17
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Ingersoll-Rand (IR) upgraded to Buy from Neutral at Goldman Sachs with analyst Joseph Ritchie saying the stock is his favorite value idea for 2018. 2. Boston Scientific (BSX) upgraded to Strong Buy from Buy at Needham analyst Mike Matson citing the company's strong product cycle potential to outperform its peers, runway for more margin expansion, conservative consensus views for fiscal 2018, and potential for even more significant upside from the Lotus Edge program being revived. 3. TravelCenters (TA) upgraded to Neutral from Sell at Citi with analyst Alvin Concepcion citing valuation with the shares down 18% since early October. 4. Vantiv (VNTV) upgraded to Buy from Neutral at Buckingham with analyst Christopher Brendler citing reduced expectations following the third quarter results. 5. Perrigo (PRGO) upgraded to Buy from Hold at Argus with analyst Jasper Hellweg citing reflecting improving results, a promising pipeline, efforts to pay down debt, and valuation. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
12/08/17
ARGS
12/08/17
UPGRADE
Target $93
ARGS
Buy
Perrigo upgraded to Buy from Hold at Argus
Argus analyst Jasper Hellweg upgraded Perrigo to Buy with a $93 price target reflecting improving results, a promising pipeline, efforts to pay down debt, and valuation.
12/04/17
LEHM
12/04/17
NO CHANGE
Target $93
LEHM
Overweight
Perrigo price target raised to $93 from $85 at Barclays
Barclays analyst Douglas Tsao raised his price target for Perrigo to $93 citing a more constructive outlook for margins in the company's prescription business. The analyst believes recent and upcoming product launches should further support margins into next year. He has an Overweight rating on the shares.
11/16/17
CANT
11/16/17
NO CHANGE
Target $10
CANT
Overweight
Perrigo earnings potential underappreciated, says Cantor Fitzgerald
Cantor Fitzgerald analyst Louise Chen views Perrigo's earnings potential as underappreciated. Upside to earnings in 2018 and beyond will be driven by "solid execution and smart deployment of its growing cash flows," Chen tells investors in a research note after meeting with CEO John Hendrickson and CFO Ron Winowiecki. The analyst reiterates an Overweight rating on the shares with a $107 price target.
MKGAY Merck KGaA
$38.36

(0.00%)

NSRGY Nestle
$86.67

0.61 (0.71%)

11/21/17
WELS
11/21/17
NO CHANGE
WELS
Nestle acquisition of Hain makes sense, says Wells Fargo
Wells Fargo analyst John Baumgartner believes a Nestle (NSRGY) acquisition of Hain Celestial (HAIN) would make sense. Bloomberg last night reported that Nestle is among the companies exploring a purchase of Hain. Nestle would likely be a good fit for Hain's baby food, skin care and tea businesses, Baumgartner told investors earlier in a research note. The analyst sees "tax leakage" as a headwind for any deal and keeps a Market Perform rating on Hain with a $38 price target.
10/13/17
CHLM
10/13/17
NO CHANGE
Target $7
CHLM
Buy
Market just beginning to recognize Codexis opportunity, says Craig-Hallum
Craig-Hallum analyst Matt Hewitt says Codexis (CDXS) has a "unique proprietary CodeEvolver protein engineering platform" that is being sought by large pharma names, citing yesterday's announcement of a partnership with Nestle (NSRGY). Hewitt says that despite the recent stock price appreciation, the increasing value of the company's development pipeline suggests the markets is just starting to recognize the opportunity. The analyst has a Buy rating and a $7 price target on the stock.
10/04/17
MSCO
10/04/17
NO CHANGE
Target $62
MSCO
Overweight
'Third Wave' coffee shops still too small to hurt Starbucks, says Morgan Stanley
Morgan Stanley analyst John Glass said the emergence of more "Third Wave" coffee shops have fueled competitive fears for Starbucks (SBUX), but he contends that the absolute numbers of specialty chains with 10 or more units remain small and most data sources show smaller chains and independents are flat to slightly declining in number. Recent high profile investments in specialty coffee, such as JAB's purchases of Stumptown and Intelligentsia and Nestle's (NSRGY) majority stake in Blue Bottle, are making headlines, but the brands' competitive relevance may be overstated, Glass tells investors. The analyst, who added that the last time McDonald's (MCD) pushed into specialty coffee it had "no discernable negative impact on Starbucks, and arguably even a positive one," keeps an Overweight rating and $62 price target on Starbucks shares.
08/16/17
PIPR
08/16/17
NO CHANGE
Target $92
PIPR
Neutral
Kraft Heinz could have interest in Nestle divestitures, says Piper Jaffray
Piper Jaffray analyst Michael Lavery expects Kraft Heinz (KHC) to pursue further consolidation, likely in packaged food, and believes potential divestitures from Nestle (NSRGY) could fit the company's criteria well. Such a deal could boost Kraft's international scale and provide synergy savings in its U.S. frozen supply chain, the analyst tells investors in a research note. He maintains a Neutral rating on Kraft Heinz shares with a $92 price target.

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