Mylan Stock Rating Lowered by Canaccord Genuity (MYL)
“The stock has responded well to recent events though we now see fewer catalysts ahead. The bull case still rests upon outsized earnings growth over the next several years boosted by the recent Agila deal which we like. Looking ahead, we view 2013 as a transition year with slower core growth and fewer catalysts. That combined with what is likely an increased focus on EPIPEN risk in 2015 could temper enthusiasm over the earnings story and set the stock up for a pause.,” the firm’s analyst commented.
A number of other firms have also recently commented on MYL. Analysts at Bank of America reiterated a buy rating on shares of Mylan in a research note to investors on Monday, March 4th. They now have a $34.00 price target on the stock, up previously from $33.00. Separately, analysts at Argus raised their price target on shares of Mylan from $32.00 to $35.00 in a research note to investors on Monday, March 4th. They now have a buy rating on the stock. Finally, analysts at Zacks reiterated a neutral rating on shares of Mylan in a research note to investors on Friday, March 1st. They now have a $31.00 price target on the stock.
Ten equities research analysts have rated the stock with a buy rating, two have assigned an overweight rating, seven have assigned a hold rating, and one has issued an underweight rating to the company. The stock has an average rating of overweight and a consensus price target of $33.08.
Mylan traded down 0.08% on Monday, hitting $30.925. Mylan has a 1-year low of $20.21 and a 1-year high of $31.02. The stock’s 50-day moving average is currently $29.14. The company has a market cap of $12.232 billion and a price-to-earnings ratio of 20.36.
Mylan, Inc. develops and markets generics along with a number of proprietary drugs. The Company’s product is for the treatment of migraine headaches, an orphan drug for the on/off fluctuation in people with Parkinson’s disease, and a wound care product to treat diabetic foot ulcers.
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