Fly News Breaks for March 6, 2015
MNK
Mar 6, 2015 | 07:41 EDT
After Mallinckrodt (MNK) announced that it was acquiring privately held Ikaria for $2.3B, Oppenheimer believes that Ikaria's products are a good fit for Mallinkrodt. The firm also likes what it sees as the additional diversification and operating margins provided by Ikaria's INOmax product. Noting that Mallinckrodt expects the deal to be immediately accretive, Oppenheimer raised its price target on Mallinckrodt to $140 from $122 and keeps an Outperform rating on the stock.
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