Zacks reiterated their neutral rating on shares of Mylan (NYSE: MYL) in a research report sent to investors on Friday morning. The firm currently has a $31.00 price target on the stock.
Zacks’ analyst wrote, “Mylan’s fourth quarter 2012 earnings of $0.65 per share beat the Zacks Consensus Estimate by $0.01. Earnings were boosted by higher revenues. Full-year earnings came in at $2.59 per share, a penny above the Zacks Consensus Estimate and 27% above the year-ago earnings. Mylan gave an encouraging outlook for 2013. The company expects adjusted earnings in the range of $2.75-$2.95 per share, up 10%. Revenues are expected in the range of $7 $7.4 billion, up 6%. Our 2013 earnings estimate is well within the company’s projected range. We are encouraged by Mylan’s geographic reach, diversified product portfolio and robust generic pipeline. However, we prefer to remain on the sidelines until more visibility is obtained on Mylan’s pipeline development efforts. “
Mylan traded up 0.16% on Friday, hitting $30.78. Mylan has a 1-year low of $20.21 and a 1-year high of $30.77. The stock’s 50-day moving average is currently $28.67. The company has a market cap of $12.523 billion and a price-to-earnings ratio of 20.22.
Other equities research analysts have also recently issued reports about the stock. Analysts at Goldman Sachs raised their price target on shares of Mylan to $33.00 in a research note to investors on Thursday, February 28th. Separately, analysts at UBS AG raised their price target on shares of Mylan from $32.00 to $33.00 in a research note to investors on Thursday, February 28th. They now have a buy rating on the stock. Finally, analysts at Susquehanna raised their price target on shares of Mylan from $31.00 to $33.00 in a research note to investors on Thursday, February 28th. They now have a positive rating on the stock.
Eleven analysts have rated the stock with a buy rating, two have issued an overweight rating, six have assigned a hold rating, and one has given an underweight rating to the company’s stock. Mylan has a consensus rating of overweight and a consensus price target of $32.85.
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