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Fly News Breaks for May 28, 2019
MYL
May 28, 2019 | 06:28 EDT
UBS analyst Navin Jacob lowered his price target on Mylan to $23 and kept his Neutral rating, saying the recent allegations of price fixing create "some leverage concerns". The analyst says he is troubled by the uncertainty and the scope of the path of litigation over the longer term, while noting that in the near term, Q1 results left "unanswered questions" about the company's execution issues. Jacob's new price target reflects his reduced forward earnings multiple assumption of 6.0-times, down from 7.5-times in his prior view.
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