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Stock Market & Financial Investment News

News Breaks
January 17, 2014
08:21 EDTPRGOConcerns on Perrigo overdone, says RBC Capital
RBC Capital reported that investors have become concerned about Perrigo due to a later start to the flu season, early mixed channel commentary and a lack of P&L clarity. But the firm thinks the concerns are overdone, as it believes that flu has less of an impact on Perrigo's business now than in the past, while the company has several unrelated upcoming positive catalysts. The firm keeps a Top Pick rating on the stock.
News For PRGO From The Last 14 Days
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June 30, 2015
08:27 EDTPRGOPerrigo deal for Roxane would make Mylan fight harder, says Citi
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June 29, 2015
15:01 EDTPRGOMallinckrodt, Perrigo among bidders for Roxane Labs, Bloomberg reports
Mallinckrodt (MNK), Perrigo (PRGO) and Hikma are among the potential bidders for Boehringer Ingelheim's Roxane Labs generic business, said Bloomberg, citing people with knowledge of the matter.
June 25, 2015
12:52 EDTPRGOEU to decide by July 29 on Mylan's bid for Perrigo, Reuters reports
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June 23, 2015
14:16 EDTPRGOBMO Capital sees strong fundamentals in Perrigo regardless of Mylan deal
Shares of Perrigo (PRGO) are trading higher intraday after BMO Capital Markets initiated coverage of the stock with an Outperform rating. The research firm is bullish on the shares regardless of whether Mylan's bid for the company succeeds, saying Perrigo is well-positioned to ride momentum in reduced-price healthcare. WHAT'S NEW: BMO Capital Markets' David Maris initiated coverage of Perrigo with an Outperform rating and a $246 price target. Maris cited the company's 70%-plus market share in store- and private-label brands, as well as its roughly $1B annual sales in the generics space. The analyst believes Perrigo will see continued benefit from larger trends driving consumer-centric healthcare and the curtailing of medical costs. WHAT'S NOTABLE: BMO Capital Markets noted that two upcoming Tysabri-related events are not accounted for by the Street, giving rise to a "significant" undervaluing of the shares. Mylan (MYL) has submitted multiple unsolicited offers for Perrigo, and while the likelihood of the deal seems low given Perrigo's numerous rejections and Teva's (TEVA) 4.61% blocking stake in Mylan. BMO Capital remarked that a failed deal should see "limited downside" for Perrigo. There could certainly be near-term volatility if a Mylan agreement doesn't materialize, but the analyst was confident in the well-positioned company's ability to deliver on both earnings per share and cash flow. PRICE ACTION: Shares of Perrigo are up nearly 2% in afternoon trading. The company saw a nearly 25% leap following Mylan's initial offer on April 8, though it has since dipped from that high.
10:00 EDTPRGOOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Adeptus Health (ADPT) initiated with a Buy at BofA/Merrill... Angie's List (ANGI) initiated with a Hold at Topeka... Avenue Financial (AVNU) initiated with an Equal Weight at Stephens... CASI Pharmaceuticals (CASI) initiated with a Buy at H.C. Wainwright... Corindus (CVRS) initiated with a Buy at Stifel... Coupons.com (COUP) initiated with a Market Perform at William Blair... Five Below (FIVE) initiated with an Outperform at RBC Capital... Franklin Financial Network (FSB) initiated with an Equal Weight at Stephens... Galmed (GLMD) initiated with a Buy at H.C. Wainwright... Genesis Healthcare (GEN) initiated with a Neutral at Susquehanna... Groupon (GRPN) initiated with a Hold at Topeka... GrubHub (GRUB) initiated with a Buy at Topeka... Hercules Technology (HTGC) initiated with a Buy at Compass Point... Immersion (IMMR) initiated with a Buy at Craig-Hallum... Lipocine (LPCN) initiated with a Buy at Canaccord... NeoGenomics (NEO) initiated with a Buy at BTIG... Novadaq (NVDQ) initiated with a Neutral at BTIG... Perrigo (PRGO) initiated with an Outperform at BMO Capital... Signal Genetics (SGNL) initiated with a Buy at Chardan... Standard Motor Products (SMP) initiated with a Neutral at CL King... United Community Financial (UCFC) initiated with a Market Perform at Keefe Bruyette... WP Glimcher (WPG) initiated with a Neutral at Goldman... WhiteWave (WWAV) initiated with a Buy at Maxim... Yelp (YELP) initiated with a Buy at Topeka.
08:49 EDTPRGOMylan CFO to meet with Tel Aviv bourse head Wednesday, Reuters says
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06:01 EDTPRGOPerrigo initiated with an Outperform at BMO Capital
BMO Capital analyst David Maris started Perrigo (PRGO) with an Outperform rating and $246 price target. Maris calls shares "significantly undervalued" on a fundamental basis and sees limited downside risk should Mylan (MYL) remove its unsolicited bid for the company.
June 21, 2015
19:53 EDTPRGOMylan CEO says Teva's 4.61% stake may be 'illegal,' Bloomberg reports
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