Mylan (MYL) PT Lowered to $24 at Cowen; 'This Will Likely End Badly'

Cowen analyst Ken Cacciatore lowered the price target on Mylan (NASDAQ: MYL) to $24.00 (from $25.00) while maintaining a Market Perform rating.

The analyst commented, "Like all generic franchises, there are only so many undifferentiated acquisitions that can be made to cover the constant downward deterioration in the base businesses. At a certain point, the new product cycle needs to materialize. But even in this case with quality launches, it is still not enough. We believe this quarter, like others before it, is confirming to our thesis. We would avoid."

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