Mylan (NYSE: MYL) had its target price lifted by Goldman Sachs to $33.00 in a report issued on Thursday.
“MYL announced a definitive agreement to purchase Agila Specialties, a generics injectable producer from Strides Arcolab, for $1.6 bn in cash (+$250mn potential payments; expected to close 4Q13). We update estimates on the back of a strong quarter, higher than consensus guidance (even with higher R&D), and strong growth in specialty (30% yoy), but do not include this proposed deal. Longer term on top of possible synergies, we see prospects brightening with potential for generic Advair, where MYL is very well positioned. Management reiterated its $6.00 EPS target for 2018.,” Goldman Sachs’ analyst wrote.
Mylan traded up 0.20% on Thursday, hitting $30.16. Mylan has a 1-year low of $20.21 and a 1-year high of $30.47. The stock’s 50-day moving average is currently $28.58. The company has a market cap of $12.270 billion and a price-to-earnings ratio of 19.80.
MYL has been the subject of a number of other recent research reports. Analysts at UBS AG raised their price target on shares of Mylan from $32.00 to $33.00 in a research note to investors on Thursday. They now have a buy rating on the stock. Separately, analysts at Susquehanna raised their price target on shares of Mylan from $31.00 to $33.00 in a research note to investors on Thursday. They now have a positive rating on the stock. Finally, analysts at Morgan Stanley downgraded shares of Mylan from an overweight rating to an equal weight rating in a research note to investors on Tuesday, January 8th. They now have a $27.00 price target on the stock.
Eleven equities research analysts have rated the stock with a buy rating, two have issued an overweight rating, and five have given a hold rating to the stock. The company presently has a consensus rating of overweight and a consensus target price of $32.83.
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