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Fly News Breaks for August 13, 2018
MYL
Aug 13, 2018 | 07:44 EDT
As reported earlier, RBC Capital analyst Randall Stanicky upgraded Mylan to Outperform and raised his price target to $51 from $42. The analyst notes that the sentiment and valuation on the stock are at their lows, just as the outlook for the sector is positioned for a "cyclical improvement". Stanicky further states that the recent "sizable cut to guidance, negative sentiment and near Street-low valuation make this entry point alluring", particularly in light of the prospects for approval of the company's generic Advair and RESTASIS.
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