Mallinckrodt (MNK): Cutting PT to $89 On Dilutive Divestiture - Mizuho
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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.
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change
Related EntitiesIrina Koffler
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