) to underperform from neutral.
Analyst Kevin Berg says the downgrade was based mainly on continuing challenges facing Allegra sales. Based on his recent research, he sees a bumpy road ahead for Allegra. Berg notes that UnitedHealth is moving Allegra to the third-tier of its formulary; companies like Aetna are aggressively acting to promote OTC options; pharmacy benefit managers becoming more proactive offering clients option to allow employees to purchase OTC Claritin with a generic level co-pay. The analyst sees near-term limited growth prospects for the company. He lowered his $1.47 2003 EPS estimate to $1.44. Berg has a $21 price target on the shares.