Strong earnings suggest Allergan sold too cheap, analyst says

Allergan's ($AGN) fourth-quarter and full-year financials are out, and the way Bernstein analyst Ronny Gal sees it, based on the company's performance, it "should have asked for more money" from buyer Actavis ($ACT). The Botox-maker, which agreed to a $66 billion buyout bid last November to end a hostile pursuit from Valeant ($VRX), beat Q4 revenue estimates by $9 million with a top-line haul of $1.91 billion, and its $2.17 EPS turnout also topped expectations by 34 cents. To top it off, Allergan logged a 17.2% year-over-year leap in product sales growth, which is "particularly impressive" considering the cost-shedding it was undergoing as part of the acquisition process. "It is getting harder to argue there is an artificial element to this growth," he wrote in a note to investors.