Allergan ‘needs much more aggressive approach’: Piper

Allergan needs ‘much more aggressive approach,’ says Piper Jaffray. Piper Jaffray analyst David Amsellem says Allergan’s plans to divest its Women’s Health and Anti-Infective segments, which he believes could be worth roughly $3.5B-$4.5B and $2B-$2.5B, respectively, in a sale, are not enough. The analyst continues to believe a “much more aggressive approach” to divestitures is warranted. Further, Amsellem also thinks that new leadership, “which ostensibly will take a more thoughtful, careful, and creative approach to M&A,” is warranted. The analyst reiterates a Neutral rating on Allergan with a $161 price target.

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