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Fly News Breaks for December 3, 2015
MNK
Dec 3, 2015 | 06:49 EDT
Morgan Stanley analyst David Risinger upgraded Mallinckrodt to Overweight and increased its price target to $88 from $74 on shares. Risinger has increased confidence in Acthar and Mallinckrodt's growth prospects, leading the company to meet or beat expectations over the next year. The analyst views valuation as attractive and is optimistic management will deliver on mid-single-to low-double digit growth in FY16.
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