This morning, Wells Fargo upgraded shares of Allergan (NYSE:AGN) from market perform to outperform as new patents will protect Restasis from competition. Shares of Allrgan were higher on Tuesday, climbing 1.3% so far.
And Morgan Stanley initiated coverage on shares of Houghton Mifflin (NASDAQ:HMHC) with an overweight rating as the company will continue to benefit from the recovery in consumer spending. In the report, Morgan Stanley noted that Houghton Mifflin is a market leader and set a $20 price target. Shares of HMHC were sharply lower on Tuesday, falling 5.2% today.
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