RBC Says Stay Away From Mylan, Perrigo; Go Long Teva, Allergan

RBC Capital Markets released a new report this week detailing its updated take on the specialty pharmaceuticals sector following the announcement of Teva Pharmaceuticals TEVA 2.55%’s buyout of Allergan Plc AGN 2.7%. Analyst Randall Stanicky revisited several companies in the sector based on the information presented in conference calls and the deal’s analyst event.

Positive Outlook For Teva

RBC is now projecting proforma earnings per share (EPS) of $5.88, $6.55 and $7.18 from Teva in 2016, 2017 and 2018, respectively. Stanicky believes that Allergan’s generics business will provide diversification for Teva and help bridge the gap to a future potential Teva growth.

Positive Outlook For Allergan

Stanicky believes…

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