BMO Capital Reiterates Outperform on Mallinckrodt (MNK) Following Solid 4Q

November 29, 2016 9:43 AM EST
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Price: $50.64 --0%

Rating Summary:
    17 Buy, 4 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 0 | Down: 0 | New: 0
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BMO Capital reiterated an Outperform rating and $92.00 price target on Mallinckrodt plc (NYSE: MNK) following the company's 4Q earnings report. Revenue of $887mn came in ahead of the consensus of 874mn, driven largely by Acthar. EPS were $2.04 vs. the consensus of 1.97.

Analyst Gary Nachman commented, "MNK delivered in F4Q with solid top and bottom line upside. Revenue of $887mn vs. BMO/consensus $872mn/874mn was driven largely by Acthar, more than offsetting generic weakness. EPS were $2.04 vs. BMO/consensus $1.94/1.97. There was clearly a benefit from an extra week in F4Q that was well known, but even without that, the brands performed well. Generics remains a concern though and investors will likely look towards 2017 guidance on/before earnings in early February."

For an analyst ratings summary and ratings history on Mallinckrodt plc click here. For more ratings news on Mallinckrodt plc click here.

Shares of Mallinckrodt plc closed at $57.67 yesterday.

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