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Fly News Breaks for July 18, 2019
AGN, ABBV
Jul 18, 2019 | 05:39 EDT
SVB Leerink analyst Marc Goodman downgraded Allergan (AGN) to Market Perform from Outperform and lowered his price target for the shares to $188 from $217. The analyst expects the stock to trade based on the AbbVie (ABBV) deal dynamics and no longer on fundamentals. Under the terms of the agreement, Allergan shareholders will receive 0.8660 AbbVie shares and $120.30 in cash for each Allergan share that they hold, for a total consideration of $188.24, Goodman tells investors in a research note.
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