Barclays Reiterates an 'Overweight' on Mylan (MYL); Increased Visibility Reinforces Positive Outlook
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Price: $31.40 +2.28%
Rating Summary:
6 Buy, 5 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Rating Summary:
6 Buy, 5 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Trade MYL Now!
Barclays reiterates an 'Overweight' on Mylan (NASDAQ: MYL), raising PT from $26 to $28.
Barclays analyst says, "With management's detailed guidance for FY11 and additional clarity on growth drivers for FY12, we came away from Mylan's 4Q earnings conference call with reinforced confidence in the company's growth outlook. With the details, we now expect North America to make a much greater contribution to growth than we previously forecasted, owing to a number of key generic launches through 2012. While quarterly financial results will remain the primary stock driver, we think visibility on key US generic launches through 2012 should boost investor confidence in achievability of the guidance."
"While our 2011 and 2013 EPS estimates remain unchanged, our 2012 estimate increases as do our revenue estimates for all three years: Overall, among the biggest changes is the estimated '10-'12 revenue growth contribution from N. America, now at 67%, versus previous 23%."
For more ratings news on Mylan click here and for the rating history of Mylan click here.
Shares of Mylan closed at $22.61 yesterday, with a 52 week range of $16.55-$24.17.
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Barclays analyst says, "With management's detailed guidance for FY11 and additional clarity on growth drivers for FY12, we came away from Mylan's 4Q earnings conference call with reinforced confidence in the company's growth outlook. With the details, we now expect North America to make a much greater contribution to growth than we previously forecasted, owing to a number of key generic launches through 2012. While quarterly financial results will remain the primary stock driver, we think visibility on key US generic launches through 2012 should boost investor confidence in achievability of the guidance."
"While our 2011 and 2013 EPS estimates remain unchanged, our 2012 estimate increases as do our revenue estimates for all three years: Overall, among the biggest changes is the estimated '10-'12 revenue growth contribution from N. America, now at 67%, versus previous 23%."
For more ratings news on Mylan click here and for the rating history of Mylan click here.
Shares of Mylan closed at $22.61 yesterday, with a 52 week range of $16.55-$24.17.
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