Mylan (MYL): Cutting PT On Slower Growth - Mizuho

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.

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 $37.56 yesterday.

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