RBC Capital analyst Randall Stanicky lowered his price target on Allergan to $140 and kept his Sector Perform rating, saying that while the company has outperformed with Q1 earnings and raised its FY19 revenue view, the management’s affirmed 5% medium-term growth forecast is “aggressive”. The analyst believes that capital deployment will likely be needed to meets Allergan’s targets and also points to the “lack of meaningful catalysts to drive upside” along with the management’s lacking appetite to “reverse recent headwinds” with strategic alternatives.
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