Mallinckrodt (MNK): Cutting PT to $89 On Dilutive Divestiture - Mizuho
- Healthcare, tech stocks drive Wall Street higher
- Twitter (TWTR) Tops Q3 EPS by 4c; Announces Restructuring, Workforce Reduction
- Qualcomm (QCOM) to Acquire NXP Semi (NXPI) in $47B Deal
- Tesla (TSLA) Posts Q3 adj.-EPS of 71c
- Pre-Open Stock Movers 10/27: (PRQR) (OCN) (TWTR) Higher; (CYH) (GNC) (RNWK) Lower (more...)
Get access to the best calls on Wall Street with StreetInsider.com's Ratings Insider Elite. Get your Free Trial here.
Mizuho Securities analyst, Irina Koffler, reiterated her Buy rating on shares of Mallinckrodt plc (NYSE: MNK) and cut her price target to $89 from $91 after new management commentary at an investor conference indicated higher dilution associated with the sale of the nuclear imaging business. The analyst also researched the Acthar competitive risk, and concluded that the threat is relatively modest, and should not overhang the stock.
Management guided to higher dilution associated with the nuclear imaging divestiture. The analyst updated her model to incorporate a dilutive impact of $0.25-$0.35/quarter and a slightly lowered our outlook on the opioid business after additional insights into competitive dynamics emerging at an ENDP analyst event.
Shares of Mallinckrodt plc closed at $72.47 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Rosenblatt Upgrades NETGEAR (NTGR) to Buy
- Jefferies Raises Price Target on Planet Fitness (PLNT) Following Solid 3Q
- Mizuho Securities Downgrades Community Health (CYH) to Underperform
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change
Related EntitiesIrina Koffler
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!