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Thursday, May 3
2012, 1:26 PM
Allergan (AGN +1.5%) continues to battle back from yesterdays's 6% selloff after missing Q1...
Allergan (AGN +1.5%) continues to battle back from yesterdays's 6% selloff after missing Q1 estimates, helped by positive comments out of Susquehanna this morning. The firm says AGN posted a good quarter, but wasn't surprised by the selloff and believe it's been overdone. Susquehanna says AGN adequately explained its shortcomings and expects to see growth accelerate through the remainder of the year. Worth noting: Jefferies says valuation is still rich on a relative basis, trading at around 20x estimates, versus its peers at 12x.