Allergan moves higher on Wells Fargo upgrade

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Michael Fowlkes 12/24/2013

Shares of Allergan ( AGN ) have gained 1.5% this morning following a broker upgrade. Wells Fargo boosted its rating on the stock from "outperform" from "market perform". The research firm based the upgrade on the belief that new patents will shield Restasis, which is the company's eye drop medication for patients with Chronic Dry Eye disease.

Allergan ( AGN ) is a drug manufacturer.

Facebook ( FB ) and Tesla Motors ( TSLA ) top the list of other companies with positive news today, while CalAmp Corp. ( CAMP ) and Glu Mobile ( GLUU ) top the list of companies with negative news.

IK-> The technicals for AGN are bullish with a strong upward trend. It has support at $95.47. The stock is up 1.5% today at $109.00. The company next reports earnings on February 3. Look at the February 90/95 bull-put spread for at least a $0.20 credit. Use limit orders. This trade has a target return of 4.2% and the stock has to fall 12.8% to cause a problem. [InvestorsKeyhole, Various news and data services]



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

Originally published on InvestorsObserver.com


This article appears in: Investing , Options

Referenced Stocks: AGN , CAMP , FB , GLUU , TSLA

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