UPDATE: UBS Investment Research Reiterates Buy Rating, Raises PT on Mylan Following Investor Day

In a report published Friday, UBS Investment Research analyst Marc Goodman reiterated a Buy rating on Mylan MYL, and raised the price target from $36.00 to $39.00. In the report, UBS Investment Research noted, “Mgt did a good job detailing key drivers (injectables, respiratory, ARV, biologics, Copaxone, strong pipeline, geographical expansion) of its 2018 guidance. New datapts incl. a Seretide MDI generics program, Advair P3 starts in 2H13, R&D spend of $2.8B planned for next 5 yrs, tax rate in 2018 down to 22%, injectables sales of $350M in 2013, $700M in 2014 and $1B in 2016, Herceptin is in P3 trials, generic Lantus starts P3 in 1H14, EpiPen generics in 2015 guidance and no US biologics incl. in the 5 yr plan.” Mylan closed on Thursday at $33.98.