Buckingham Research Upgrades Allergen (AGN) to Buy

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Analyst Comments on Allergen (AGN) as Investors Await Updated Valeant (VRX) Proposal

May 27, 2014 1:57 PM EDT

Wells Fargo maintained an Outperform rating on Allergen (NYSE: AGN). Analyst Larry Biegelsen expects Valeant Pharmaceuticals International (NYSE: VRX) to update its proposal tomorrow.

"VRX is expected to raise its bid for AGN tomorrow, perhaps including a higher cash component. We have to wait-n-see on the higher bid and AGN's ultimate response.... More