Mallinckrodt (MNK) PT Raised to at Guggenheim Following Ikaria Deal

Guggenheim analyst Swati Kumar reiterated a Buy rating and boosted its Mallinckrodt plc (NYSE: MNK) to $140.00 (from $123.00) after the company announced the acquisition of Ikaria for $2.3B in cash.

"We believe this deal is a good fit for MNK's hospital-based platform," Kumar said. "We anticipate Ikaria to bolster MNK's earnings growth, profitability profile, and cash generating capabilities. With shares currently trading at ~14.6x our F2016 EPS estimates, we believe there is room for meaningful share appreciation in the next 12 months."

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 $121.70 yesterday.

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