--> This call made Shire spike sooner today - see previous bbg
Allergan, Inc Sun Trust reiterates Buy rating, price target $200
- Firm believes an AGN bid for SHPG is imminent and more attractive than VRXs proposal
- Firm notes that NEWCO is more attractive withou roll-up risk
- Firm notes that assuming modest synergies, their NEWCO EPS accretion is 50% in Year 1 with their 5-year EPS CAGR rising to 34% from 21% and a ROIC that approaches mid-teens by 2020