Sterne Agee Feels More Positive On Allergan Following Recent Call With CEO

In a report published Monday, Sterne Agee analyst Shibani Malhotra reiterated a Buy rating and $185.00 price target on Allergan (NYSE: AGN).

In the report, Sterne Agee noted, “We held a call with Allergan's CEO David Pyott, that left us even more convinced that management's actions are motivated by the desire to maximize shareholder value rather to keep Allergan an independent company. That said, we do believe Allergan will take near term actions that shareholders should value, thus increasing its chance of remaining independent. We remain buyers of AGN given our confidence that this team will drive further shareholder value.”

Allergan closed on Friday at $173.95.