Goldman Sachs Sees Mylan (MYL) as a Strong Takeover Target
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Price: $15.86 --0%
Rating Summary:
17 Buy, 13 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 16 | Down: 7 | New: 60
Rating Summary:
17 Buy, 13 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 16 | Down: 7 | New: 60
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Shares of Mylan (NASDAQ: MYL) are rising over 3 percent Friday after raising its FY12 outlook and boosting its share buyback plan early Thursday and announcing today that it is launching generic Lipitor in 5 European counties. But something else could also be contributing to the strong move in the stock...
Analysts at Goldman Sachs had some glowing things to say about Mylan today and raised their M&A raking on the company saying it, "offers strategic appeal under potential continued industry consolidation given its global platform, position as fourth largest global generics company (post WPI/Actavis deal), and double digit earnings growth over the next three years."
Goldman raised its M&A rank on Mylan to a "2" from a "3", implying a 15%-30% probability of a transaction.
The firm raised its price target on MYL from $27 to $28, while reiterating their Buy rating. They also raised FY12 EPS estimates from $2.46 to $2.50, FY13 from $2.74 to $2.85 and FY14 from $3.04 to $3.15.
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 $21.08 yesterday.
Analysts at Goldman Sachs had some glowing things to say about Mylan today and raised their M&A raking on the company saying it, "offers strategic appeal under potential continued industry consolidation given its global platform, position as fourth largest global generics company (post WPI/Actavis deal), and double digit earnings growth over the next three years."
Goldman raised its M&A rank on Mylan to a "2" from a "3", implying a 15%-30% probability of a transaction.
The firm raised its price target on MYL from $27 to $28, while reiterating their Buy rating. They also raised FY12 EPS estimates from $2.46 to $2.50, FY13 from $2.74 to $2.85 and FY14 from $3.04 to $3.15.
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 $21.08 yesterday.
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