Bank of America Gears Up For Alexion's Stock Split Aftermath

Bank of America has published a report on Alexion Pharmaceuticals ALXN in response to the company's recent stock split. In the report, Bank of America writes, "We adjusted our PO for the recently completed 2:1 stock split from $110 to $56, which includes minor model adjustments. We reiterate our Buy rating as we believe additional upside potential will be driven by: (1) Continued upside to Company guidance and Street consensus models; (2) Data news flow for ALXN's monoclonal antibody Soliris on the back of 2011/early 2012 (new neurology indications (MG and NMO) and proof of concept data in age related macular degeneration); (3) A greater appreciation for ALXN's pipeline from recently complete acquisitions."