Shares of Perrigo Co. surged Tuesday after Jeff Smith, chief executive officer of Starboard Value, singled out the pharmaceutical company as a good investment. Perrigo has more potential to boost sales through online vendors such as Amazon.com Inc. and the stock is undervalued due to the pricing pressure in its generics business, he said. Perrigo shares jumped 5.1% to $89.37. Altaba Inc. , another of Smith’s best ideas presented at the Delivering Alpha conference, also rose 0.5%. Altaba was formed after Verizon Communications Inc. bought Yahoo’s internet business.
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