UPDATE: Canaccord Genuity Upgrades Mylan to Buy on Potential Pending Break-Out

Canaccord Genuity raised its rating on Mylan

from Hold to Buy and increased its price target from $25 to $30. Canaccord Genuity commented, "Relative to follow-through, two things have changed: (1) upside from the quarter brings carry-through and an upward bias to guidance; (2) the message around potential for a sizable accretive deal will keep focus in the upside case and point many to the outperformance we saw by WPI off its Actavis purchase. Collectively, both should tactically push the stock higher into the early Feb. guidance update (with 4Q)." Mylan closed at $25.00 on Thursday.