Canaccord Genuity Maintains a 'Hold' on Mylan (MYL); Mixed Quarter Trumped by De-risked Outlook
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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 maintains a 'Hold' on Mylan (NASDAQ: MYL) price target raised $2 to $23.
Canaccord analyst, Randall Stanicky, said, "MYL delivered a Q3 largely as advertised against expectations that were lower than we anticipated. Weak EMEA result was consistent with our checks, while Dey strength was the clear driver of upside. The path from here is now more de-risked with Q3 past us and management effectively getting Q4 expectations more in line. We think the risk-reward going forward is to the upside and we're taking our PT to $23. That said, we're maintaining our rating with debate from here (1) timing of EMEA drag elimination and (2) visibility on growth post widely expected solid 2012 - which is where our focus lies ahead of the February analyst meeting."
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.
Canaccord analyst, Randall Stanicky, said, "MYL delivered a Q3 largely as advertised against expectations that were lower than we anticipated. Weak EMEA result was consistent with our checks, while Dey strength was the clear driver of upside. The path from here is now more de-risked with Q3 past us and management effectively getting Q4 expectations more in line. We think the risk-reward going forward is to the upside and we're taking our PT to $23. That said, we're maintaining our rating with debate from here (1) timing of EMEA drag elimination and (2) visibility on growth post widely expected solid 2012 - which is where our focus lies ahead of the February analyst meeting."
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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