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Fly News Breaks for May 22, 2017
MNTA, MYL
May 22, 2017 | 05:40 EDT
Barclays analyst Douglas Tsao upgraded Mylan (MYL) to Overweight saying the chances of the company winning approval for its generic version of Copaxone this year are better than current market expectations. The approval come as soon as next month, Tsao tells investors in a research note. The analyst coupled the upgrade with a downgrade of Copaxone maker Momenta Pharmaceuticals to Equal Weight. The selloff in Mylan following the Q1 disclosure of deficiencies to Advair create a buying opportunity, the analyst contends. He raised his price target for the shares to $50 from $47. Mylan closed Friday down 21c to $37.94.
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