Needham & Company Maintains a 'Strong Buy' on Mylan (MYL); Dey After Dey EpiPen Continues to Deliver
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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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Needham & Company maintains a 'Strong Buy' on Mylan (NASDAQ: MYL) price target of $29.00.
Needham analyst says, "Though concerns of a full-fledged European meltdown have dogged MYL shares for the better part of a year, we remain of the belief that U.S. based upside remains significantly underappreciated and more than capable of offsetting continued softening growth trends in the EU, a trend clearly exemplified by strong 3Q11 results. We’d be foolish to argue that Europe is “getting better” but clearly expectations have fallen to the low-end of the spectrum and the prospects for a significant shortfall relative to consensus appear minimal. Additionally, it is important to remember that one “good” thing in the U.S. (e.g. PIV new product launch) can more than offset softness across the EU at least in the short-term and given the strong expected new product launch cadence in 2012-13 and corresponding heightened visibility, the likelihood of a shortfall vs. consensus numbers appears remote at this juncture."
For more ratings news on Mylan click here and for the rating history of Mylan click here.
Shares of Mylan closed at $19.56 yesterday.
Needham analyst says, "Though concerns of a full-fledged European meltdown have dogged MYL shares for the better part of a year, we remain of the belief that U.S. based upside remains significantly underappreciated and more than capable of offsetting continued softening growth trends in the EU, a trend clearly exemplified by strong 3Q11 results. We’d be foolish to argue that Europe is “getting better” but clearly expectations have fallen to the low-end of the spectrum and the prospects for a significant shortfall relative to consensus appear minimal. Additionally, it is important to remember that one “good” thing in the U.S. (e.g. PIV new product launch) can more than offset softness across the EU at least in the short-term and given the strong expected new product launch cadence in 2012-13 and corresponding heightened visibility, the likelihood of a shortfall vs. consensus numbers appears remote at this juncture."
For more ratings news on Mylan click here and for the rating history of Mylan click here.
Shares of Mylan closed at $19.56 yesterday.
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