UBS is still Bullish on M&A theme
UBS: For MNK, they are 18% above consensus and believe owning the stock even if for just the qtr makes sense. They also see upside from IPXL (33%) and TEVA (6%) but believe the buy-side is ahead of the sell-side for these beats. They are also 2% above the Street for ACT, and if anything they may be too conservative with their est. JAZZ is the one stock where they are slightly above consensus (3%) and think Street numbers should probably come down some. In generics, ACT remains their favorite but they also like MYL and PRGO. THey like MNK, VRX, ENDP, and JAZZ. Thier focus remains on MRK and PFE