Company

Bank

Analyst

Coverage

Opinion

Wk chg

6/21 cls

Elan Corp. plc (NYSE:ELN)

Jefferies

Corey Davis

Price target

Buy

2%

$13.98

Davis raised his target from $14 to reflect his belief that Elan is worth $19 per share on a takeout basis. Last week, Royalty Pharma officially ended its hostile bid to acquire Elan for $13 per share. On June 14, Elan announced a formal sales process and said its financial advisors had contacted Royalty's financial advisors to invite Royalty to participate in the process (see B2).