Perrigo recent pullback a buying opportunity, says Argus

Argus says the 6% pullback in shares of Perrigo over the past quarter offers a buying opportunity. The analyst expects the company to continue to gain market share as consumers trade down from national brands to Perrigo’s private-label and store brands amid weak economic conditions. The company should also benefit from the acquisition of higher-margin products and its cost savings initiatives, the analyst tells investors in a research note. The firm keeps a Buy rating on the shares with a $46 price target.