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Citigroup ups price target on Watson Pharmaceuticals
Watson Pharmaceuticals Inc. was reiterated at a hold with its price target increased to $37 from $35 by Citigroup Investment Research analyst Andrew Swanson. Citigroup said Watson's agreement with Purdue Pharma to become the generic manufacturer for Oxycontin will increase revenues. Shares of the Corona, Calif.-based biopharmaceutical company were up $0.33, or 0.94%, at $35.55 on volume of 1,132,100 shares versus the three-month running average of 993,488 shares.
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