Oppenheimer Reiterates Outperform On Mallinckrodt Following Investors Meeting
In a research report issued today, Oppenheimer analyst Akiva Felt reiterated an Outperform rating on Mallinckrodt (NYSE:MNK) with a $111 price target, which represents a potential upside of 27% from where the stock is currently trading.
Felt wrote, “We spent last Thur.-Fri. with MNK’s VP of IR visiting investors in London. We report back on a number of company-related updates (discussed below), but the trip was also educational in seeing first-hand the types of questions and issues that were of interest to the European investors we visited. Most notably, EU investors were much more focused on MNK’s specialty generic and API business and future drivers (+/- generic Concerta) as a way to offset potential Acthar-related risk, rather than running the gamut on specific Acthar “what-ifs” that we see with US investors. We were impressed with how MNK communicated the story and believe it was well received by the more generalist-style EU investor base.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Akiva Felt has a total average return of 45.7% and a 55.6% success rate. Felt is ranked #59 out of 3377 analysts.