Canaccord Genuity Maintains a 'Hold' on Mylan (MYL); Analyst Day Big on Detail, Small on Guidance Surprise
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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: 11 | New: 14
Rating Summary:
17 Buy, 13 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 14
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Canaccord Genuity maintains a 'Hold' on Mylan (NASDAQ: MYL) price target raised to $24.00.
Analyst, Randall Stanicky, said, "MYL’s afternoon analyst day came with 2012 and 2013 guidance consistent with where expectations were: 2012 EPS of $2.30 to $2.50 straddling consensus, with a reaffirmed 2013 target of $2.75. Where there was some surprise was MYL’s decision to introduce a 2018 EPS target of $6 per share, implying a 17% EPS CAGR off the 2013 target in an attempt to infuse confidence in outer-year growth where the industry struggles with visibility. Greater disclosure adds visibility but still several swing factors exist and what we view as ambitious assumptions needed (though solid track record). Net, no material change to our 2012 to 2015 EPS or rating while our target moves to $24 on EPS roll forward."
For an analyst ratings summary and ratings history on Mylan click here. For more ratings news on Mylan click here.
Shares of Mylan closed at $22.70 yesterday.
Analyst, Randall Stanicky, said, "MYL’s afternoon analyst day came with 2012 and 2013 guidance consistent with where expectations were: 2012 EPS of $2.30 to $2.50 straddling consensus, with a reaffirmed 2013 target of $2.75. Where there was some surprise was MYL’s decision to introduce a 2018 EPS target of $6 per share, implying a 17% EPS CAGR off the 2013 target in an attempt to infuse confidence in outer-year growth where the industry struggles with visibility. Greater disclosure adds visibility but still several swing factors exist and what we view as ambitious assumptions needed (though solid track record). Net, no material change to our 2012 to 2015 EPS or rating while our target moves to $24 on EPS roll forward."
For an analyst ratings summary and ratings history on Mylan click here. For more ratings news on Mylan click here.
Shares of Mylan closed at $22.70 yesterday.
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