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Cowen: Shire's Weak Market Sentiment Yields Opportunity

SHPG, BXLT - Cowen: Shire's Weak Market Sentiment Yields Opportunity

  • Ken Cacciatore of Cowen commented in a note on Thursday that the "mixed reaction" in the stock has created a "compelling opportunity."
  • Cacciatore maintained an Outperform rating and $325 price target on the stock.
  • Shares of Shire have seen a "mixed reaction" following its proposed acquisition of Baxalta Inc BXLT 1.05%, which – when combined with the overall market correction, has created a "compelling opportunity" for investors.

    Outperform Rated, $325 Price Target

    In a report published Thursday, Cowen and Company analyst Ken Cacciatore maintained an Outperform rating and $325 price target on shares of Shire, as the investment community will begin to recognize the company's revenue and earnings diversification (including the Lifitegrast opportunity) with or without Baxalta as part of the company.

    As the Lifitegrast October 25...


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