Why Has Morgan Stanley Given Mylan Inc (NASDAQ:MYL) a $56.00 Price Target
Investment analysts at Morgan Stanley placed a key “Equal-weight” rating for Mylan Inc (NASDAQ:MYL). The firm have started coverage in a recent research report made public on Thursday morning. The target price could mean upside of 8.19% from the current stock price.
From a total of 14 analysts covering Mylan Inc. (NASDAQ:MYL) stock, 10 rate it a ”Buy”, 0 a “Sell”, and 6 a ”Hold”. This means that 63% of the ratings are positive. The highest target price is $77 while the lowest target price is $53. The mean of all analyst targets is $64.36 with a 21.40% above today’s ($51.44) stock price. Mylan Inc. was the topic of 18 analyst reports since July 27, 2015 according to the firm StockzIntelligence Inc. JP Morgan reinitiated shares on November 18 with “Overweight” rating. BTIG Research maintained shares with “Buy” rating and $85 target share price in a report from an August 19. Barclays Capital initiated MYL stock in a recent report from September 21 with “Equal Weight” rating. Argus Research maintained the rating on August 7. Argus Research has a “Buy” rating and a $65 price target on shares. Finally, Standpoint Research initiated the stock with “Buy” rating in a report issued on an August 26.
Approximately 1.99 million shares of stock traded hands. Mylan NV (NASDAQ:MYL) has declined 27.93% since April 30, 2015 and is downtrending. It has underperformed by 27.64% the S&P500.
Mylan N.V., formerly Mylan Inc., is a global pharmaceutical company, which develops, licenses, makes, markets and distributes generic, branded generic and specialty pharmaceuticals. The company has a market cap of $25.53 billion. Mylan operates in two divisions: Generics and Specialty. It has 29.31 P/E ratio. The Company’s generic pharmaceutical business is conducted primarily in the United States and Canada ; Europe, the Middle East, and Africa (collectively, EMEA); and India, Australia, Japan and New Zealand (collectively, Asia Pacific).
According to Zacks Investment Research, “Mylan NV is a pharmaceutical company. The company develops, licenses, manufactures, markets and distributes generic and specialty pharmaceuticals. It operates primarily in the United States, Canada, Europe, the Middle East, Africa, India, Australia, Japan and New Zealand. Mylan NV, formerly known as Mylan Inc., is based in Canonsburg, Pennsylvania.” Get a free copy of the Zacks research report on Mylan NV (MYL).