Duncan-Williams Follows Up on Forest Laboratories After Icahn Crisis

Duncan Williams has published a research report on Forest Laboratories FRX after the Icahn crisis. In the report, Forest Laboratories wrote, "Forest successfully thrwarted Icahn's attempts to install directors on its board and we think the experience has strengthened the company. During this time period management provided additional transparency regarding business development activities and long-term growth targets, actively solicited shareholder feedback, added three new directors to its board, bought back $350 million in shares, and made a stronger commitment to corporate governance." Duncan Williams rated Forest Laboratories a BUY with a price target of $48.00. Forest Laboratories closed Thursday at $40.52.