Stock Update: Allergan Inc (NYSE:AGN) – Teva Pharm finalizing asset sales to clear Allergan deal: source

[Reuters] – The divestments would boost efforts by Teva, the Israeli pharmaceutical company, to close the deal with Allergan, which is domiciled in Ireland. Teva said in March that a regulatory review of the deal by the U.S. Federal Trade Commission was taking longer than anticipated, and that it expected the transaction to be completed by June. Teva has found buyers for nearly all of the assets it expects to divest, which could be worth as much as $2 billion in total, the source said on Thursday. Read more on this. Allergan plc (AGN) , valued at $83.11B, began trading this morning at $214.62. Looking at today’s trading action, the company’s one day range from $209.77 to $214.90 with a trailing 52-week range being $209.77 to $340.34. AGN shares are currently priced at 15.15x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s -6.99x forward p/e ratio. And for income investors, the company pays shareholders $0.20 per share annually in dividends, yielding 0.10%. According to a consensus of 17 analysts, the earnings estimate of $3.03 per share would be $1.27 worse than the year-ago quarter and a $0.64 sequential decrease. The full-year EPS estimate is $14.17 which would be a $0.74 better than last year’s full-year earnings. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $3.96 Billion. If realized, that would be a 5.71% decrease over the year-ago quarter. Recently, Guggenheim Initiated AGN at Neutral (Apr 18, 2016). Previously, Piper Jaffray downgraded AGN from Overweight to Neutral. Given all the information above, we should disclose to readers that the average price target is $296.81, which is 38.30% above than it opened this morning. See more in (NYSE:AGN) Similar Articles: Company Update: Allergan Inc (NYSE:AGN) – Teva Pharm sees close of $40.5 bln Allergan generics deal by June Stock Update: Allergan Inc (NYSE:AGN) – Exclusive: Teva set to win EU okay for $40.5 billion Allergan deal – sources Stock Update (NYSE:AGN): Teva divesting $1 billion in assets to clear Allergan deal: sources