Mallinckrodt (MNK) PT Raised to $95 at Jefferies
Jefferies analyst Anthony Petrone reiterated a Buy rating and raised his price target on Mallinckrodt plc (NYSE: MNK) to $95.00 (from $85.00) following strong results.
Petrone commented, "F3Q showed continued positive trends in Acthar, INOmax and Ofirmev while headwinds in generics were contained. Looking ahead, the portfolio is well balanced and poised to deliver steady growth and cash in its current form while M&A remains core to the strategy. Eventually this solid execution should get awarded a higher multiple. Estimates higher; PT to $95."
The firm raised FY 2016 EPS from $8.25 to $8.70 and FY 2017 EPS from $8.90 to $9.25.
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Shares of Mallinckrodt plc closed at $76.91 yesterday.