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Stock Strategist

Concerns About Allergan's Health Are Overblown

Michael Waterhouse

We think three primary factors have weighed on  Allergan’s (AGN) stock price: concern about generics’ effects on a few of the company’s products, apprehension regarding new competition, and skepticism of the pipeline.

While these are valid concerns, we think the current stock price overly penalizes Allergan and ignores the company’s wide economic moat and long-term positives.

Michael Waterhouse does not own shares in any of the securities mentioned above. Find out about Morningstar's editorial policies.