Morgan Stanley Sees Balanced Risk-Reward For Mallinckrodt PLC

In a report published Monday, Morgan Stanley analyst Christopher Caponetti reiterated an Equal-Weight rating on

. In the report, Morgan Stanley noted, “We see a balanced risk-reward. In our view, the acquisitions of Cadence and Questcor are financially compelling, but earnings concentration in Ofirmev and Acthar may limit multiple expansion given generic threats (Ofirmev) and questionable cost- benefit (Acthar).” Mallinckrodt PLC closed on Friday at $73.10.