Q3 Return: +23%
YTD Return: +39%
Investor: Rick Pendergraft
At the start of the year, Rick Pendergraft predicted a 30% gain for generics drug-maker Mylan (MYL). Three-quarters of the way through the year, it looks like Pendergraft was too conservative.
Mylan was sizzling in the most recent quarter, racing out to 23% gains. One catalyst: The company reported a 28% jump in profits for the second quarter despite a negative currency exchange. It also reaffirmed full-year guidance.
As a result, analysts have been bullish on the stock. Bernstein upgraded MYL in September, while Goldman Sachs recently raised its price target to $46, citing “increased confidence in key revenue and earnings drivers.”
That’s more than 20% upside from its current price — not bad considering the stock already has soared almost 40% in only nine months.