UPDATE: Bank Of America Reiterates On Actavis plc On Strong Strategic/Financial Position

In a report published Tuesday, Bank of America analyst Sumant S. Kulkarni reiterated a Buy rating on Actavis plc (NYSE: ACT), and raised the price target from $246.00 to 254.00.

In the report, Bank of America noted, “We like ACT's business mix (brands/generics/biosimilars), geographic footprint, thoughtful and targeted R&D strategy, strong management team, and business development approach. We believe the acquisitions of Warner and FRX put Irish-domiciled ACT in a strong strategic and financial position for an evolving Pharma landscape in the years ahead.”

Actavis plc closed on Monday at $214.94.