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UPDATE: Bank of America Merrill Lynch Reiterates Buy Rating, Raises PT on Mylan

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In a report published Monday, Bank of America Merrill Lynch reiterated its Buy rating on Mylan (NASDAQ: MYL), and slightly raised its price target from $29.00 to $30.00.

BofA Merrill Lynch noted, “With significant acquisitions in '07, MYL transformed itself from a US-only, generic-only story into a global, diversified, vertically-integrated one. Though management's original assumptions for Dey (brands) proved optimistic, we are encouraged by revenue trends in generics and potential for margin improvements. Integration risks and high debt level are key risks, but as the only large, liquid, global generic alternative to Teva, we see MYL as a higher risk, higher reward name.”

Mylan closed on Friday at $27.97.

Latest Ratings for MYL

DateFirmActionFromTo
Jun 2015BTIG ResearchInitiates Coverage onBuy
Jun 2015CitigroupMaintainsNeutral
Jun 2015Raymond JamesInitiates Coverage onMarket Perform

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Posted-In: Bank of America Merrill LynchAnalyst Color Price Target Analyst Ratings

 

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