Canaccord Genuity Starts Mylan (MYL) at Hold; Near-term Earnings Risk Tempers Otherwise Upbeat View
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Price: $15.86 --0%
Rating Summary:
17 Buy, 13 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
17 Buy, 13 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Canaccord Genuity initiates coverage on Mylan (NASDAQ: MYL) with a Hold. PT $21.00.
Canaccord analyst, Randall Stanicky, said, "We struggled with our outlook for Mylan the most. We would argue shares are inexpensive and we do see US generic support to the earnings picture in H2/2012. That said, based on our meetings in Europe last week, we see a slower EMEA ramp which, combined with fewer H2/2011 US launches, creates short-term earnings risk. Generic Lipitor is a swing factor but visibility is low. Bottom line, we think the risk to owning the stock here is low given valuation and we inherently like the stock, but we don’t want to get in front of what we think could be a more challenging H2/2011."
For more ratings news on Mylan click here and for the rating history of Mylan click here.
Shares of Mylan closed at $18.51 yesterday.
Canaccord analyst, Randall Stanicky, said, "We struggled with our outlook for Mylan the most. We would argue shares are inexpensive and we do see US generic support to the earnings picture in H2/2012. That said, based on our meetings in Europe last week, we see a slower EMEA ramp which, combined with fewer H2/2011 US launches, creates short-term earnings risk. Generic Lipitor is a swing factor but visibility is low. Bottom line, we think the risk to owning the stock here is low given valuation and we inherently like the stock, but we don’t want to get in front of what we think could be a more challenging H2/2011."
For more ratings news on Mylan click here and for the rating history of Mylan click here.
Shares of Mylan closed at $18.51 yesterday.
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