UPDATE: Morgan Stanley Downgrades Mylan to Equal-Weight Following Outperformance
Morgan Stanley downgraded Mylan Inc. (NASDAQ: MYL) from Overweight to Equal-weight and removed the price target of $27.00.
Morgan Stanley commented, "Mylan is above our previous $27 price target, and we are downgrading from OW to EW on a more balanced risk-reward. The market now appears to be pricing in better growth prospects in EMEA and the potential for accretive M&A."
Mylan closed at $27.91 on Monday.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.