Market Overview

UPDATE: Goldman Sachs Raises PT to $33 on Mylan on Agila Specialties Purchase

Share:
Related MYL
M&A Potential With This Healthcare ETF
Benzinga's M&A Chatter for Monday May 16, 2016
Tracking Ruane, Cunniff, & Goldfarb's Portfolio - Q1 2016 Update (Seeking Alpha)

In a report published Thursday, Goldman Sachs reiterated its Buy rating on Mylan (NYSE: MYL) and raised its price target from $32 to $33.

Goldman Sachs reported that, “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). 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.

Latest Ratings for MYL

DateFirmActionFromTo
May 2016Leerink SwannMaintainsOutperform
Feb 2016Argus ResearchMaintainsBuy
Feb 2016Wells FargoInitiates Coverage onMarket Perform

View More Analyst Ratings for MYL
View the Latest Analyst Ratings

Posted-In: Goldman SachsAnalyst Color Price Target Analyst Ratings

 

Related Articles (MYL)

View Comments and Join the Discussion!