Mylan Price Target Increased to $38.00 by Analysts at JP Morgan Cazenove (MYL)

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JP Morgan Cazenove increased their price target on shares of Mylan (NASDAQ: MYL) from $34.00 to $38.00 in a research note issued on Wednesday, StockRatingsNetwork reports. The firm currently has an “overweight” rating on the stock. JP Morgan Cazenove’s target price indicates a potential upside of 27.13% from the stock’s previous close.

Several other analysts have also recently commented on the stock. Analysts at JPMorgan Chase reiterated an “overweight” rating on shares of Mylan in a research note to investors on Wednesday. They now have a $38.00 price target on the stock. Separately, analysts at Canaccord Genuity cut their price target on shares of Mylan to $32.00 in a research note to investors on Tuesday, April 2nd. They now have a “hold” rating on the stock. Finally, analysts at Sanford C. Bernstein downgraded shares of Mylan from an “outperform” rating to a “market perform” rating in a research note to investors on Monday, March 25th.

Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $34.00.

Mylan (NASDAQ: MYL) traded up 0.32% on Wednesday, hitting $29.987. Mylan has a 1-year low of $20.21 and a 1-year high of $31.22. The stock’s 50-day moving average is currently $29.44. The company has a market cap of $11.428 billion and a price-to-earnings ratio of 19.97.

Mylan, Inc. develops and markets generics along with a number of proprietary drugs. The Company’s product is for the treatment of migraine headaches, an orphan drug for the on/off fluctuation in people with Parkinson’s disease, and a wound care product to treat diabetic foot ulcers.

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