Elan (ELN +1.1%) trades higher this morning after UBS ups the shares to Buy, citing the spin-off...

|About: Elan Corporation, plc (ELN)|By:, SA News Editor

Elan (ELN +1.1%) trades higher this morning after UBS ups the shares to Buy, citing the spin-off of its Discovery Science and Neotope Biosciences businesses. The firm says the move turns it into a Tysabri-focused company with significant growth and under-appreciated operating leverage. Additionally, S&P put the stock's rating on creditwatch with positive implications, saying the spinoff is likely to lead to a better risk profile.