S&P Capital IQ Reiterates its STRONG BUY Rating on Mylan

October 28 00:00 2011

NEW YORK, October 28 (RainbowNewsLine.com) – Analyst Herman Saftlas of S&P Capital IQ reiterates his STRONG BUY rating on the shares of Mylan (NASDAQ: MYL). The target price is set to $29.

Analyst Herman Saftlas, in a research note published yesterday mentions that Mylan posted its non-GAAP Q3 EPS ahead of the estimates. Mylan’s Q3 results reflec growth in revenues, gains in North America and Asia Pacific, offsetting for declines in Europe, the analyst says. The sales of EpiPen auto injector were robust, and MYL is expected to unveil some 500 products in pipeline globally in 2012, the analyst says. The analyst believes that MYL’s top management is strengthened by the appointment of Heather Bresch as CEO.