Morgan Stanley Issues a Upgrade for Mallinckrodt plc (NYSE:MNK) from a “Equal-Weight” to “Overweight” Rating

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Mallinckrodt plc (NYSE:MNK) Stock Upgrade

In an interesting research report shared with investors and clients today, Morgan Stanley boosted shares of Mallinckrodt plc (NYSE:MNK) to a solid “Overweight” rating from their previous “Equal-Weight” rating.

From a total of 15 analysts covering Mallinckrodt (NYSE:MNK) stock, 10 rate it a ”Buy”, 0 a “Sell”, and 5 a ”Hold”. This means that 67% of the ratings are positive. The highest target price is $130 while the lowest target price is $67. The mean of all analyst targets is $95.8 with a 32.32% above today’s ($74.16) stock price. Mallinckrodt was the topic of 16 analyst reports since August 5, 2015 according to the firm StockzIntelligence Inc. Northland Capital maintained shares on November 25 with “Outperform” rating. JP Morgan downgraded shares to “Neutral” rating and $120 target share price in a report from an August 5. Mizuho initiated MNK stock in a recent report from October 9 with “Neutral” rating. Finally, BMO Capital Markets maintained the stock with “Market Perform” rating in a report issued on a September 4.

Approximately 3.03M shares of stock traded hands. Mallinckrodt PLC (NYSE:MNK) has declined 36.07% since April 30, 2015 and is downtrending. It has underperformed by 35.78% the S&P500.

 Morgan Stanley Issues a Upgrade for Mallinckrodt plc (NYSE:MNK) from a

Mallinckrodt public limited company is a global specialty pharmaceuticals company. The company has a market cap of $8.37 billion. The Firm develops, makes, markets and distributes both branded and generic specialty pharmaceuticals, active pharmaceutical ingredients (API) and diagnostic imaging agents. It has 28.52 P/E ratio. The Firm uses its API products in the manufacture of its generic pharmaceuticals and also sells them to other pharmaceutical companies.

According to Zacks Investment Research, “Mallinckrodt Plc. is engaged in pharmaceuticals business. It develops, manufactures, markets and distributes specialty pharmaceutical products and medical imaging agents. The company’s Specialty Pharmaceuticals segment includes branded and generic drugs and Medical Imaging segment includes contrast media and nuclear imaging agents. Mallinckrodt Plc. is based in Dublin, Ireland.” Get a free copy of the Zacks research report on Mallinckrodt PLC (MNK).

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