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MYL

Mylan

$39.53

0.24 (0.61%)

, PRGO

Perrigo

$82.91

-3.11 (-3.62%)

15:36
12/14/17
12/14
15:36
12/14/17
15:36

Mylan, Perrigo among those interesed in Merck KGaA unit, Bloomberg says

Mylan (MYL), Perrigo (PRGO), Nestle (NSRGY) and Reckitt Benckiser (RBGLY) are among those said to be bidding for Merck KGaA's (MKGAY) consumer health unit, according to Bloomberg.

MYL

Mylan

$39.53

0.24 (0.61%)

PRGO

Perrigo

$82.91

-3.11 (-3.62%)

MKGAY

Merck KGaA

RBGLY

Reckitt Benckiser

$18.17

0.11 (0.61%)

NSRGY

Nestle

$86.67

0.61 (0.71%)

MYL Mylan
$39.53

0.24 (0.61%)

12/01/17
WELS
12/01/17
NO CHANGE
Target $1525
WELS
Outperform
Amazon price target raised to $1,525 from $1,430 at Wells Fargo
Wells Fargo analyst Ken Sena raised his price target for Amazon.com (AMZN) to $1,525 to reflect increased outer-year estimates for Web Services as well as a higher sum-of-the-parts valuation. The stock closed yesterday up $15.48 to $1,176.75. The analyst highlights the "very successful" five-day Amazon Wed Services conference in Las Vegas, "record-breaking" early holiday sales data, and another healthcare industry development with CNBC reporting the company is in talks with generic manufacturers Mylan (MYL) and Novartis (NVS). Sena sees an increasing likelihood that Amazon "ultimately becomes a disruptor" in healthcare, with generics representing a potential point of entry. The Wells Fargo Healthcare team sees generics as a "simple entry point" in pharma as it involves many players with ready supply and a price competitive market, Sena tells investors in a research note. The analyst keeps an Outperform rating on Amazon.
12/04/17
UBSW
12/04/17
NO CHANGE
Target $46
UBSW
Buy
Mylan best positioned for FDA approval of complex products, says UBS
UBS analyst Marc Goodman believes Mylan is the best positioned to benefit from the FDA focus on approval of complex products, as evidenced by its approvals for Heparin and Herceptin. The analyst said management has indicated the approval of Ogivri is also a near-term opportunity. Goodman reiterated his Buy rating and $46 price target on Mylan shares.
12/12/17
GUGG
12/12/17
INITIATION
Target $59
GUGG
Buy
Mylan initiated with a Buy at Guggenheim
Guggenheim analyst Rohit Vanjani initiated Mylan with a Buy and $59 price target telling investors the biosimilars pipeline is a differentiating factor and believes copies of Herceptin and Neulasta as potential nearer-term catalysts. The analyst is positive on Mylan's diversified revenues and strong ANDA pipeline still at the FDA.
12/12/17
12/12/17
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Mylan (MYL), Teva (TEVA) and Endo (ENDP) initiated with a Neutral at Gugenheim, while Impax (IPXL) was initiated with a Buy. 2. Stitch Fix (SFIX) initiated with an Outperform at William Blair, a Neutral at JPMorgan and Goldman Sachs, an Overweight at Piper Jaffray, an Equal Weight at Barclays and a Hold at Stifel. 3. Exxon Mobil (XOM) and ConocoPhillips (COP) initiated with a Neutral at Credit Suisse. The firm also started Range Resources (RRC) and Anadarko (APC) with an Outperform, and Laredo Petroleum (LPI), Energen (EGN), Southwestern Energy (SWN), Noble Energy (NBL), Murphy Oil (MUR), Cabot Oil & Gas (COG) and Newfield Exploration (NFX) with a Neutral rating. 4. Restaurant Brands (QSR) initiated with an Outperform at Evercore ISI. 5. Waste Connections (WCN) initiated with an Outperform, named a top pick at BMO Capital. This list is just a portion of The Fly's full analyst coverage. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
PRGO Perrigo
$82.91

-3.11 (-3.62%)

12/08/17
12/08/17
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Ingersoll-Rand (IR) upgraded to Buy from Neutral at Goldman Sachs with analyst Joseph Ritchie saying the stock is his favorite value idea for 2018. 2. Boston Scientific (BSX) upgraded to Strong Buy from Buy at Needham analyst Mike Matson citing the company's strong product cycle potential to outperform its peers, runway for more margin expansion, conservative consensus views for fiscal 2018, and potential for even more significant upside from the Lotus Edge program being revived. 3. TravelCenters (TA) upgraded to Neutral from Sell at Citi with analyst Alvin Concepcion citing valuation with the shares down 18% since early October. 4. Vantiv (VNTV) upgraded to Buy from Neutral at Buckingham with analyst Christopher Brendler citing reduced expectations following the third quarter results. 5. Perrigo (PRGO) upgraded to Buy from Hold at Argus with analyst Jasper Hellweg citing reflecting improving results, a promising pipeline, efforts to pay down debt, and valuation. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
12/04/17
LEHM
12/04/17
NO CHANGE
Target $93
LEHM
Overweight
Perrigo price target raised to $93 from $85 at Barclays
Barclays analyst Douglas Tsao raised his price target for Perrigo to $93 citing a more constructive outlook for margins in the company's prescription business. The analyst believes recent and upcoming product launches should further support margins into next year. He has an Overweight rating on the shares.
11/16/17
CANT
11/16/17
NO CHANGE
Target $10
CANT
Overweight
Perrigo earnings potential underappreciated, says Cantor Fitzgerald
Cantor Fitzgerald analyst Louise Chen views Perrigo's earnings potential as underappreciated. Upside to earnings in 2018 and beyond will be driven by "solid execution and smart deployment of its growing cash flows," Chen tells investors in a research note after meeting with CEO John Hendrickson and CFO Ron Winowiecki. The analyst reiterates an Overweight rating on the shares with a $107 price target.
12/08/17
ARGS
12/08/17
UPGRADE
Target $93
ARGS
Buy
Perrigo upgraded to Buy from Hold at Argus
Argus analyst Jasper Hellweg upgraded Perrigo to Buy with a $93 price target reflecting improving results, a promising pipeline, efforts to pay down debt, and valuation.
MKGAY Merck KGaA

RBGLY Reckitt Benckiser
$18.17

0.11 (0.61%)

07/06/17
JEFF
07/06/17
DOWNGRADE
JEFF
Hold
Reckitt Benckiser downgraded to Hold from Buy at Jefferies
Jefferies analyst Martin Deboo downgraded Reckitt Benckiser to Hold saying the recent share rally no longer leaves sufficient upside for a Buy rating. The analyst raised his price target to 8,400p from 7,750p.
02/06/17
RBCM
02/06/17
DOWNGRADE
RBCM
Underperform
Reckitt Benckiser downgraded to Underperform from Sector Perform at RBC Capital
RBC Capital analyst James Edwardes Jones downgraded Reckitt Benckiser to Underperform with a price target of GBP 6,300.
02/02/17
SBSH
02/02/17
NO CHANGE
Target $83
SBSH
Buy
Citi calls $90/share price not 'all that great' for Mead Johnson
A deal price for Mead Johnson (MJN) of $90 per share "doesn't seem all that great" given that the shares were at $92 back in July of 2016 and hit $105 in February 2015, Citi analyst David Driscoll tells investors in a research note after Reckitt Benckiser (RBGLY) confirmed overnight that it is in "advanced negotiations" to buy the baby formula maker for $90 per share. The analyst believes Mead shares could be valued at $112 in a takeover. "It is quite easy to wonder if Reckitt isn't coming along at a most opportune time when Mead's EBITDA is depressed, but on a road to recovery," Driscoll writes. The analyst thinks interest from other bidders is likely with press reports as recently as two weeks ago suggesting Nestle (NSRGY) had interest in Mead while other reports suggested interest from Danone (DANOY). Driscoll even ponders if Kraft Heinz (KHC) may "come out of the shadows." In pre-market trading, Mead shares are up 24%, or $16.50, to $86
02/02/17
WBLR
02/02/17
NO CHANGE
WBLR
Wyeth Nutrition deal implies $100/share price for Mead, says William Blair
William Blair analyst Jon Andersen says Nestle's (NSRGY) acquisition of Wyeth Nutrition a few years ago, done at 20 times EBITDA, implies a Mead Johnson (MJN) takeover price closer to $100 per share. Reckitt Benckiser (RBGLY) appears to have the financial capacity to get a deal done, Andersen tells investors in a research note after both the company and Mead confirmed the deal talks. The analyst has an Outperform rating on Mead.
NSRGY Nestle
$86.67

0.61 (0.71%)

11/21/17
WELS
11/21/17
NO CHANGE
WELS
Nestle acquisition of Hain makes sense, says Wells Fargo
Wells Fargo analyst John Baumgartner believes a Nestle (NSRGY) acquisition of Hain Celestial (HAIN) would make sense. Bloomberg last night reported that Nestle is among the companies exploring a purchase of Hain. Nestle would likely be a good fit for Hain's baby food, skin care and tea businesses, Baumgartner told investors earlier in a research note. The analyst sees "tax leakage" as a headwind for any deal and keeps a Market Perform rating on Hain with a $38 price target.
10/13/17
CHLM
10/13/17
NO CHANGE
Target $7
CHLM
Buy
Market just beginning to recognize Codexis opportunity, says Craig-Hallum
Craig-Hallum analyst Matt Hewitt says Codexis (CDXS) has a "unique proprietary CodeEvolver protein engineering platform" that is being sought by large pharma names, citing yesterday's announcement of a partnership with Nestle (NSRGY). Hewitt says that despite the recent stock price appreciation, the increasing value of the company's development pipeline suggests the markets is just starting to recognize the opportunity. The analyst has a Buy rating and a $7 price target on the stock.
10/04/17
MSCO
10/04/17
NO CHANGE
Target $62
MSCO
Overweight
'Third Wave' coffee shops still too small to hurt Starbucks, says Morgan Stanley
Morgan Stanley analyst John Glass said the emergence of more "Third Wave" coffee shops have fueled competitive fears for Starbucks (SBUX), but he contends that the absolute numbers of specialty chains with 10 or more units remain small and most data sources show smaller chains and independents are flat to slightly declining in number. Recent high profile investments in specialty coffee, such as JAB's purchases of Stumptown and Intelligentsia and Nestle's (NSRGY) majority stake in Blue Bottle, are making headlines, but the brands' competitive relevance may be overstated, Glass tells investors. The analyst, who added that the last time McDonald's (MCD) pushed into specialty coffee it had "no discernable negative impact on Starbucks, and arguably even a positive one," keeps an Overweight rating and $62 price target on Starbucks shares.
08/16/17
PIPR
08/16/17
NO CHANGE
Target $92
PIPR
Neutral
Kraft Heinz could have interest in Nestle divestitures, says Piper Jaffray
Piper Jaffray analyst Michael Lavery expects Kraft Heinz (KHC) to pursue further consolidation, likely in packaged food, and believes potential divestitures from Nestle (NSRGY) could fit the company's criteria well. Such a deal could boost Kraft's international scale and provide synergy savings in its U.S. frozen supply chain, the analyst tells investors in a research note. He maintains a Neutral rating on Kraft Heinz shares with a $92 price target.

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