Goldman Sachs Boosts Target for Allergan Ahead of R&D Day (AGN)

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Healthcare products maker Allergan, Inc. ( AGN ) on Monday caught some further positive commentary from analysts at Goldman Sachs.

The firm maintained its "Buy" rating on AGN and lifted its price target from $99 to $106 ahead of the company's Research & Development Day, which is slated for Wed., March 28. That new target suggests a 13% upside to the stock's Friday closing price of $93.61.

Goldman noted that R&D Day could intrigue investors with "impressive pipeline breadth, several programs with potentially very meaningful sales potential, and a large number of trials set to complete in the 2011/2012 timeframe."

Allergan shares were mostly flat in premarket trading Monday.

The Bottom Line
Shares of Allergan ( AGN ) have a .21% dividend yield, based on last night's closing stock price of $93.61. The stock has technical support in the $85-$90 price area. The stock is trading near all-time highs.

Allergan, Inc. ( AGN ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .



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.

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