NEW YORK (TheStreet) -- Perrigo (PRGO) shares are down -2.4% to $154.97 on heavy volume today following a note by Jefferies (JEF) analysts saying that anticipation about the possible sale of the over-the-counter drug manufacturer should be tempered.
The firm notes that only a handful of companies would be willing purchase the company for the 25% premium that is reported to be its asking price.
Must Read: 20 Most Volatile Post-Earnings Stocks
STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.
Of the companies that could purchase the company, many already have over-the-counter divisions and any potential tax benefits from a tax inversion deal for the Ireland-based company would be negligible, according to the analysts.
The firm maintained its "buy" rating and $160 price target on the company.
TheStreet Ratings team rates PERRIGO CO PLC as a Buy with a ratings score of B-. TheStreet Ratings Team has this to say about their recommendation:
"We rate PERRIGO CO PLC (PRGO) a BUY. This is driven by some important positives, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, good cash flow from operations, expanding profit margins and increase in stock price during the past year. We feel these strengths outweigh the fact that the company has had sub par growth in net income."