Mylan (MYL): Cutting PT On Slower Growth - Mizuho
- Donald Trump Sworn in as 45th U.S. President
- Wall Street ends higher as Trump becomes president
- Walgreens Boots Alliance (WBA) Said to Face Antitrust Concern for Rite Aid (RAD) Fix - Bloomberg
- Bristol-Myers Squibb (BMY) Says It Won't Pursue Accelerated U.S. Regulatory Pathway for Opdivo Plus Yervoy in Lung Cancer
- Apple (AAPL) Sues Qualcomm (QCOM) Over Patent Royalties in Antitrust Case - Bloomberg
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 Mylan (NASDAQ: MYL) but cut the price target to $47.00 due to slower revenue growth post quarterly guidance.
Shares of MYL have weakened after a 3Q:16 miss and muted outlook for 2017-2018. Management indicated that its bottom line would grow in the "low teens" in 2017-2018 and additional tuck-in deals would be required to hit its 2018 $6.00 EPS target. Management also noted that it would undertake a large restructuring program that could drive additional OpEx efficiencies.
The analyst reiterated her Buy rating but cut her PT to $47 from $49 due to lower revenue estimates, partially offset by improved operating margins.
Shares of Mylan closed at $37.56 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- M&T Bank (MTB) PT Raised to $165 at FBR Capital Following 4Q Beat
- UPDATE: Stifel Upgrades Abraxas Petroleum (AXAS) to Buy Amid Emerging Delaware Basin Potential
- Union Pacific (UNP) PT Raised to $102 at Stifel Following 4Q Report
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst PT 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!