In a report published Thursday, Goldman Sachs Reiterated with a Buy rating on Mylan MYL and raised 12 month price target from $32 to $33. MYL announced a definitive agreement to purchase Agila Specialties, a generics injectable producer from Strides Arcolab, for $1.6 bn in cash
(+$250mn potential payments; expected to close 4Q13).
Goldman Sachs reported that, “We update estimates on the back of a strong quarter, higher than consensus guidance (even with higher R&D), and strong growth in specialty (30% yoy), but do not include this proposed deal. Longer term on top of possible synergies, we see prospects brightening with potential for generic Advair, where MYL is very well positioned. Management reiterated its $6.00 EPS target for 2018."
Mylan shares closed at $28.57 on Wednesday.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in