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Canaccord Genuity Maintains a 'Hold' on Mylan (MYL); Raising PT on Solid Q2

July 27, 2012 2:47 PM EDT Send to a Friend
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Price: $47.89 +2.44%

Rating Summary:
    10 Buy, 8 Hold, 1 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 15 | Down: 16 | New: 67
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Canaccord Genuity maintains a 'Hold' on Mylan (NASDAQ: MYL) price target of $25.00 (from $24.00).

Analyst, Randall Stanicky, said, "Post the 2Q call our rating is unchanged but we think that risk/reward has improved – MYL put up a solid 2Q against low expectations which, combined with a stronger 2H, should provide support for the stock. While the stock may see a bounce, we’re still looking for more robust multi-year operational growth before we get more aggressive with our rating. Our EPS estimates move higher, implying a 5% 3-year revenue CAGR and 7% EPS CAGR off 2012E and our price target increases to $25."

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

Shares of Mylan closed at $22.75 yesterday.

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