Stock of the Week #10: PRGO

By: Prem Samritpricha

prgo

prgo chart

Why to Buy the Stock:

  • BREAKING NEWS: Joseph Papa has left!
  • Perrigo remains fundamentally sound
  • Ripe for a takeover to unlock even more value

Summary:

In recent news, Perrigo’s (PRGO) current CEO Joseph Papa has announced he has left for rival company Valeant Pharmaceuticals (VRX). This news dropped the pre-prgo snippetmarket trading by 12.85% and as much as 19% at one point during the day’s session. However, the company is remains great shape fundamentally. We believe the massive drop in value today (a whopping 20% dip!) was caused by investors completely overreacting to news. Therefore, we believe this is presenting investors a great opportunity with this entry point before the stock begins to rebound.

 

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