UPDATE: Bank of America Merrill Lynch Initiates Coverage on Mylan with Overweight Rating

In a report published Monday, Bank of America Merrill Lynch initiated coverage on Mylan

with an Overweight rating. BofA Merrill Lynch noted, “We initiate coverage on Mylan at OW-100%, as we see material yield and promising long-term growth prospects vs. peers within the IG Pharma subsector. Moody's and S&P upgraded Mylan to investment grade last week mainly due to its strong positioning in the generics market and favorable financial policies.” Mylan closed on Friday at $27.11.