Allergan plc. (AGN) : Analyst Rating Update

Allergan plc. (AGN) : 17 analysts are covering Allergan plc. (AGN) and their average rating on the stock is 1.79, which is read as a Buy. 9 equity analysts believe that the stock has a bright future and the price doesnt capture all of its upside, hence they rate the stock as a Strong Buy. Allergan plc. (AGN) also receives 3 more Buy recommendations from analysts who believe that the stock will do well going forward. A Zacks Investment Research rank of 3, which recommends a Hold affirms that they expect a large upside in the stock from the current levels. 1 more analyst has given the stock a Sell recommendation. A total of 4 brokerage firms believe that the stock is fairly valued, hence they advise a Hold on the stock.

Allergan plc. (AGN) : The consensus price target for Allergan plc. (AGN) is $294.64 for the short term with a standard deviation of $51.4. The most optimist securities analyst among the 11 who monitor the stock believes that the stock can reach $400, however, the pessimist price target for the company is $232.

Allergan plc. (NYSE:AGN): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $234.32 and $233.15 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $237.68. The buying momentum continued till the end and the stock did not give up its gains. It closed at $236.98, notching a gain of 0.42% for the day. The total traded volume was 2,352,559 . The stock had closed at $236.00 on the previous day.

Also, Equity Analysts at the Piper Jaffray downgrades the rating on Allergan plc. (NYSE:AGN). The brokerage firm has issued a Neutral rating on the shares. The shares were previously rated Overweight. The Analysts at the ratings agency lowers the price target from $311 per share to $238 per share. The rating by the firm was issued on April 18, 2016.

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