Deutsche Bank Starts Perrigo Co. (PRGO) at Buy

Deutsche Bank initiated coverage on Perrigo Co. (NYSE: PRGO) with a Buy rating and a price target of $189.00.

Analyst Gregg Gilbert said, "As the global leader in over-the-counter (OTC) store brands (ie, private label versions of national brands), we believe that Perrigo is well positioned to capitalize on favorable industry trends. We also like the durability of the store brand model, which is characterized by limited competition and high barriers to entry. While Perrigo does not need deals to grow, we expect the company to leverage its efficient tax structure through business development; we also note that its tax structure and durable cash flow model could make Perrigo a potential target for companies seeking a tax inversion. We see Perrigo’s management team as highly capable and shareholder friendly."

For an analyst ratings summary and ratings history on Perrigo Co. click here. For more ratings news on Perrigo Co. click here.

Shares of Perrigo Co. closed at $151.09 yesterday.

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