Mylan Given Neutral Rating at Zacks (MYL)
Mylan (NYSE:MYL)‘s stock had its “neutral” rating restated by Zacks in a research note issued on Friday. They currently have a $49.00 price target on the stock. Zacks‘s price objective indicates a potential upside of 5.40% from the company’s current price.
Zacks’ analyst wrote, “Mylan’s second quarter 2014 adjusted earnings of $0.66 per share fell short of the Zacks Consensus Estimate by $0.01. Revenues too narrowly missed the Zacks Consensus Estimate. We are disappointed by the soft generics sales in the U.S. The company now expects adjusted earnings for 2014 in the range of $3.25 to $3.45 and revenues in the range of $7.8 billion to $8 billion. Mylan’s deal with Abbott to buy the latter’s branded specialty and generics business in the developed ex-U.S. markets is a prudent move. The all stock deal is expected to close in the first quarter of 2015. Mylan said that its 2018 earnings guidance (of at least $6.00 per share) could be reached earlier in the event of the deal achieving its desired results. We remain Neutral on the stock.”
Mylan (NYSE:MYL) traded down 1.59% during mid-day trading on Friday, hitting $45.75. 5,355,350 shares of the company’s stock traded hands. Mylan has a one year low of $34.46 and a one year high of $57.52. The stock has a 50-day moving average of $50.79 and a 200-day moving average of $49.57. The company has a market cap of $17.098 billion and a P/E ratio of 29.04.
Mylan (NYSE:MYL) last released its earnings data on Thursday, August 7th. The company reported $0.69 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.73 by $0.04. The company had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.88 billion. During the same quarter in the prior year, the company posted $0.68 earnings per share. The company’s quarterly revenue was up 7.9% on a year-over-year basis. Analysts expect that Mylan will post $3.36 EPS for the current fiscal year.
MYL has been the subject of a number of other recent research reports. Analysts at RBC Capital downgraded shares of Mylan from an “outperform” rating to a “sector perform” rating in a research note on Friday. They now have a $53.00 price target on the stock, down previously from $60.00. Separately, analysts at Citigroup Inc. downgraded shares of Mylan from a “buy” rating to a “neutral” rating in a research note on Friday, July 25th. They now have a $57.00 price target on the stock, down previously from $61.00. Finally, analysts at Deutsche Bank initiated coverage on shares of Mylan in a research note on Tuesday, July 22nd. They set a “buy” rating and a $67.00 price target on the stock. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Mylan currently has an average rating of “Buy” and an average target price of $53.55.
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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