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inue to like TEVA's positioning In generic pharma where scale and product diversity are increasingly important. TEVA remains one of our top picks in Spec Pharma. rontler Comm (FIR) - BAML reaffirming BUY after Frontier reported its first post-Verizon assets merger results. Fifes earnings miss was due to a de

version ratio sliding scale, can result in an attractively skewed upside vs downside profile for holding the mandatory convert vs the common stock. Allergen, Teva and Frontier Communications are three names we have high conviction on and they have mandatory convert preferreds that I recommend buying. All

tinue to like TEVA's positioning in generic pharma where scale and product diversity are increasingly important. TWA remains one of our top picks in Spec Pharma. Frontier Comm (FTR) - BAM reaffirming BUY after rontier reported its first post-Verizon assets merger results. FTR's ea nings miss was due to a dec

version ratio sliding scale, can result in an attractively skewed upside vs downside profile for holding the mandatory convert vs the common stock. Allergen, Teva and Frontier Communications are three names we have high conviction on and they have mandatory convert preferreds that I recommend buying. All

inue to like TEVA's positioning In generic pharma where scale and product diversity are Increasingly Important. TEVA remains one of our top picks in Spec Pharma, $72 price objective (30% upside). Quick glance at TEVA 7% preferreds 905.50-907 vs $55.16. The Pfds yield 7.7% vs 2.47% in common giving yield ad

footprint, thoughtful and targeted strategy, strong management team, and imaginative business development approach. We believe the acquisitions of Allergen, Warner and Forest put Irish•domiciled AGN in a strong strategic and financial position for an evolving Pharma landscape in the years ahead. Teva P