JPMorgan upgraded its rating on Allergan (AGN) to Overweight saying it sees "compelling value" in a potential merger with Valeant (VRX). The firm sees limited downside in Allergan shares and raised its price target for the stock to $190 from $130. JPMorgan also upped its price target for Valeant shares to $180 from $170 and reiterates an Overweight rating on the name.
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