Mylan Coverage Initiated by Analysts at Citigroup Inc. (MYL)
Analysts at Citigroup Inc. assumed coverage on shares of Mylan (NYSE:MYL) in a research report issued to clients and investors on Friday, TheFlyOnTheWall.com reports. The firm set a “neutral” rating and a $42.00 price target on the stock. Citigroup Inc.’s price objective indicates a potential upside of 9.29% from the stock’s previous close.
Shares of Mylan (NYSE:MYL) traded down 0.16% during mid-day trading on Friday, hitting $38.43. 3,460,243 shares of the company’s stock traded hands. Mylan has a 52 week low of $23.24 and a 52 week high of $38.98. The stock has a 50-day moving average of $36.00 and a 200-day moving average of $31.67. The company has a market cap of $14.673 billion and a P/E ratio of 23.61.
Mylan (NYSE:MYL) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.01. The company had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter in the previous year, the company posted $0.60 earnings per share. The company’s revenue for the quarter was up .8% on a year-over-year basis. Analysts expect that Mylan will post $2.87 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on MYL. Analysts at Zacks upgraded shares of Mylan from a “neutral” rating to an “outperform” rating in a research note to investors on Tuesday. They now have a $46.00 price target on the stock. Separately, analysts at JPMorgan Chase & Co. reiterated a “buy” rating on shares of Mylan in a research note to investors on Tuesday, October 15th. They now have a $42.00 price target on the stock. Finally, analysts at UBS AG reiterated a “hold” rating on shares of Mylan in a research note to investors on Tuesday, October 15th. They now have a $14.96 price target on the stock. One analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $38.29.
Mylan Inc (NYSE:MYL) is a fully integrated global pharmaceutical company that develops, licenses, manufactures, markets and distributes generic, branded generic and specialty pharmaceuticals.
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