Canaccord analyst Dewey Steadman reiterated a Buy rating and $40 price target on Mallinckrodt following the release of the company's 10-K. In a research note to investors, Steadman says he is "pleased" with the company's 2019 guidance that implies a return to growth for the embattled generics business following several years of contraction from broader industry challenges. Steadman says he continues to remain positive on the Mallinckrodt story as he thinks management's focus on Acthar solidification, pipeline progression and continued product execution have largely been lost to emotionally-driven selling over the past several months.