UPDATE: Deutsche Bank Reiterates Buy Rating, Raises PT on Shire PLC Following Investor Dinner

In a report published Friday, Deutsche Bank analyst Greg Poole reiterated a Buy rating on Shire PLC SHPG, and raised the price target from $101.00 to $109.00. In the report, Deutsche Bank noted, “We hosted a small investor dinner with Shire management this week, where new CEO Dr. Flemming Ornskov offered a comprehensive, updated view of the company – having now been at the company for nearly six months. In summary, while Shire faces a number of challenges, we again like what we heard from the new CEO. Dr. Ornskov's highest priority is to enhance Shire's long term growth rate, by 1) maximizing its current product portfolio, 2) marshalling resources behind the most promising pipeline opportunities, and 3) executing ‘very smart' business development and M&A.” Shire PLC closed on Thursday at $98.77.