Mylan (NASDAQ:MYL) Top Generic Asset Says Goldman (NYSE:GS)

Goldman Sachs (NYSE:GS) boosted their price target on Mylan (NASDAQ:MYL), saying they see a lot of upside for the stock, which they consider the best pure generic play in the segment.

They said, "Mylan has grown into what we view as the most attractive global largely pure-play generic asset with (1) leverage to attractive high growth regions ex-US (62% of revenue is ex-US) (2) a stable and diversified business model offering a sector high 3-year EPS CAGR at 17% and (3) undemanding valuation that we think can support further multiple expansion and remains well below historical generic take-out levels for strategic deals."

Goldman maintains their "Conviction Buy" rating on Mylan, which closed Wednesday at $22.60, up $0.02, or 0.07 percent. Goldman increased their price target on Mylan from $26 to $28, citing possible M&A.