Mylan (MYL) – Analysts’ Weekly Ratings Changes
Mylan (NYSE: MYL) received a number of ratings updates from brokerages and research firms in the last week:
- Mylan had its “overweight” rating reaffirmed by analysts at Barclays Capital. They now have a $26.00 price target on the stock.
- Mylan had its “hold” rating reaffirmed by analysts at Canaccord Genuity. They now have a $25.00 price target on the stock.
- Mylan was upgraded by analysts at Canaccord Genuity from a “hold” rating to a “buy” rating. They now have a $30.00 price target on the stock, up previously from $25.00. They wrote, “Relative to follow-through, two things have changed: (1) upside from the quarter brings carry-through and an upward bias to guidance; (2) the message around potential for a sizable accretive deal will keep focus in the upside case and point many to the outperformance we saw by WPI off its Actavis purchase. Collectively, both should tactically push the stock higher into the early Feb. guidance update (with 4Q).”
- Mylan had its “strong-buy” rating reaffirmed by analysts at Needham & Company. They now have a $33.00 price target on the stock.
- Mylan had its “neutral” rating reaffirmed by analysts at Zacks. They now have a $26.00 price target on the stock. Zacks‘ analyst wrote, “Mylan’s third quarter 2012 earnings of $0.83, up 51% year over year, beat the Zacks Consensus Estimate by $0.06. Higher revenues and gross margin expansion drove earnings. Mylan raised its 2012 earnings guidance to $2.50-$2.60 per share (previous: $2.45 $2.55 per share). Our 2012 earnings estimate is well within the company’s projected range. We are encouraged by Mylan’s geographic reach and product depth along with a robust generic product pipeline. However, Mylan’s performance in the EMEA region remains a concern. We see limited upside potential from current levels and hence retain our Neutral recommendation on Mylan. Our target price is $26.00.”
Shares of Mylan Inc. traded up 2.15% during mid-day trading on Thursday, hitting $25.885. Mylan Inc. has a one year low of $17.22 and a one year high of $25.51. The company has a market cap of $10.549 billion and a P/E ratio of 17.73.
Mylan Inc. (Mylan) is a pharmaceutical company, which develops, licenses, manufactures, markets and distributes generic, branded generic and specialty pharmaceuticals.