Stock Market Watch

Mylan Shares Rally After Several Upgrades (MYL)

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Shares of Mylan Inc. (NASDAQ: MYL) jumped 7.12% on Friday after several brokerage firms upgraded the pharmaceutical company’s stock.

UBS AG lifted its price target on the stock to $39 from $36 on Friday. The firm currently keeps a “buy” rating on shares.

Equity research analysts at Needham & Company raised the price target to $40 from $34 but downgraded share by a notch to “buy” from “strong buy”.

Also, analysts at Canaccord Genuity increased their price target on the stock to $36 from $32. The firm currently keeps a “hold” rating on shares.

Finally, analysts at JP Morgan Cazenove raised their price target on the stock to $40 from $38. The firm has assigned “overweight” rating on the stock.

Currently, two equity research analysts maintain “hold” rating while seven analysts keep a “buy” rating on Mylan shares.  On average, shares have a “buy” rating and a price target of $35.80.

About Mylan Inc.

Headquartered in Canonsburg, Pennsylvania, Mylan focuses on the development, licensing, manufacturing, marketing and distribution of generic, branded generic and specialty drugs.

The pharmaceutical company has two business divisions: Generics and Specialty Segments.

The generic drugs are mainly marketed and distributed in the North American region (the U.S and Canada), The EMEA region (Europe, the Middle East and Africa) and Asia Pacific, which includes India, Australia, New Zealand and Japan.

 








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edliston
Post Written By: Ed Liston

Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.

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Ed Liston

Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing.

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