Barclays Believes Mallinckrodt plc (MNK) Divestiture Could Be Prelude for Opiod Settlement

Barclays analyst Balaji Prasad reiterated an Equalweight rating and $5.00 price target on Mallinckrodt plc (NYSE: MNK).

The analyst believes shares will react positively to the combined $250 million sales of HIG Capital. Prasad suspects the sale could be part of MNK's preparations for an upcoming settlement related to opiod lawsuits.

The analyst remains sidelined citing Acthar uncertainty, upcoming LOEs and potential risk from opiod litigation.

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 $2.10 yesterday.

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