Allergen (AGN) Trading Below Standalone Value Following New Treasury Action - RBC

BMO Capital Reiterates Outperform on Pfizer (PFE) Following Allergan Merger Termination

BMO Capital reiterated an Outperform rating and $39.00 price target on Pfizer (NYSE: PFE) following the company's announcement the merger agreement with Allergan plc was terminated. BMO believes that Pfizer will likely look for more deals to strengthen its innovative business, and the recent weakness... More

Leerink Partners Cuts Price Target on Allergan (AGN) Following New U.S. Treasury Regulations

Leerink Partners maintained an Outperform rating on Allergen (NYSE: AGN), and cut the price target to $272.00 (from $340.00), following new U.S. Treasury regulations. The Treasury's temporary regulation regarding new tax inversion rules creates a risk to PFE (MP) - AGN closing.

Analyst Jason Gerberry... More

Allergen's (AGN) Stand-Alone Price Target is $282 at Deutsche Bank

Deutsche Bank analsyt Gregg Gilbert said his stand-alone price target for Allergen (NYSE: AGN) is $282. Comments follow reports its deal with Pfizer (NYSE: PFE) could be in jeopardy given the U.S. Treasury's changes targeting tax inversions.

"Recall that we have been using a deal-driven price target... More

Buy Allergen (AGN) at $220 Regardless of Deal Outcome - Leerink

Leerink Partners analyst, Jason Gerberry, weighed in on the PFE-AGN and recommends buying shares of Allergen (NYSE: AGN) at the $220 level, where they are currently trading premarket regardless of the outcome of the deal. No change to Outperform rating or $340 price target.

The US Treasury update takes direct aim at the PFE-AGN deal and includes provisions that threaten the inversion status of the deal.... More

Treasury Action More than a Wrinkle for Pfizer (PFE)/Allergan (AGN) Deal - Jefferies

Jefferies analyst Jeffrey Holford said the new Treasury action looks like more than just a wrinkle for the Pfizer (NYSE: PFE)/Allergan (NYSE AGN) merger.

Holford commented, "Yesterday's Treasury action is expected to have a significant impact on the PFE/ AGN merger, potentially derailing it. Management has yet to fully evaluate the situation. Investors may hope for clarity on the separation of GEP if the deal is dead, but we are not so sure that this will be... More

New Treasury Action Could Block, or Significantly Change Pfizer (PFE)/Allergan (AGN) Deal - BMO Capital

BMO Capital analyst Alex Arfaei weighed in on Pfizer (NYSE: PFE) after the U.S. Treasury and the IRS issued temporary and proposed regulations to further reduce the benefits of and limit the number of corporate tax inversions.

"We believe that the most relevant proposal for the PFE + AGN merger is the action to 'limit inversions by disregarding foreign parent stock attributable to recent inversions or acquisitions of U.S. companies.'," the analyst said. "For the purposes of computing the ownership percentage when determining if an acquisition is treated as an... More

Pfizer (PFE) Conducting Review of U.S. Treasury Notice, Won't Speculate on Potential Effect - Bloomberg, Citing Spokeswoman

Pfizer (NYSE: PFE) Conducting Review of U.S. Treasury Notice, Won't Speculate on Potential Effect - Bloomberg, Citing Spokeswoman

UPDATE: Allergan (AGN) Pressured After U.S. Treasury, IRS Seek to Reduce Benefits of Inversions

(Updated - April 4, 2016 5:26 PM EDT)

Allergan (NYSE: AGN) was pressured post-market Monday after the U.S. Treasury and IRS issued temporary and proposed regulations to further reduce the benefits of and limit the number of corporate tax inversions.

The stock declined 12%.

Allergan (AGN) Slammed on New U.S. Treasury Inversion Action; Pfizer (PFE) Higher

Pending merger partners Allergan (NYSE: AGN) and Pfizer (NYSE: PFE) are trading in opposite directions following... More