Bank of America Merrill Lynch Maintains Buy on Allergan

Bank of America Merrill Lynch is out with its report today on Allergan AGN, maintaining Buy. In a note to clients, Bank of America Merrill Lynch writes, "We believe that AGN is ideally positioned, with a fully integrated, global, specialty-focused model and strong management team. While competitive threats will emerge and revenue growth has slowed, we believe the diversified revenue base (multiple geographies and therapeutic areas, payor mix), product pipeline, and potential for SGA leverage can support continued strong and relatively predictable EPS growth over an extended period. Selective acquisitions may supplement organic growth." Bank of America Merrill Lynch maintains a $90 PO on AGN. Shares of AGN closed Monday at $79.74, down 0.10% from Friday's close.