Mallinckrodt plc (MNK) Target Lifted to $77 at Jefferies

Jefferies analyst Anthony Petrone reiterated a Buy rating and lifted his price target on Mallinckrodt plc (NYSE: MNK) from $66 to $77.

Analyst Anthony Petrone said, "Lack of abuse deterrence in label does not dramatically alter our near-term outlook for the product; longer-term MNK still has a leg up on competitors seeking similar claims. Outside Xartemis XR, generic price increases continue while Exalgo/Concerta contributions are still sufficiently high. Both are more impactful to near-term estimates which go higher."

The firm raised FY 2014 EPS from $2.80 to $2.91 and FY 2015 EPS from $2.96 to $3.46.

For an analyst ratings summary and ratings history on Mallinckrodt plc click here. For more ratings news on Mallinckrodt plc click here.

Shares of Mallinckrodt plc closed at $67.09 yesterday.

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