Goldman Sachs Downgrades Allergen (AGN) to Neutral

Goldman Sachs downgraded Allergen (NYSE: AGN) from Buy to Neutral with a price target of $110, saying they see greater upside in Forest Laboratories (NYSE: FRX), which was upgraded to Buy today.

"While AGN's base business remains solid (we forecast EPS growth of 15% over the next several years) driven by strong sales of Botox and the ophthalmic businesses, we see few near term catalysts that are likely to lead to upside EPS revisions or P/E expansion," analyst Jami Rubin said.

For an analyst ratings summary and ratings history on Allergen click here. For more ratings news on Allergen click here. Shares of Allergen closed at $96.24 yesterday, with a 52 week range of $81.28-$116.45.

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