Citigroup reiterates Mylan at buy

Mylan Laboratories Inc. was reiterated by Citigroup Investment research analyst Andrew Swanson at a buy rating. Mylan reported fiscal third-quarter 2006 adjusted earnings of $0.25 per share, in line with the analyst's expectation of $0.25 and ahead of the consensus expectation of $0.24. Citigroup reduced its fiscal year 2006 earnings-per-share forecast to $0.97 from $1.00, increased fiscal year 2007 to $1.26 from $1.25, and increased fiscal year 2008 to $1.43 from $1.42. Shares of the Canonsburg, Pa., pharmaceutical company were up $2.02, or 10.47%, at $21.32 on volume of 10,074,300 shares versus the three-month running average of 1,320,110 shares. (NYSE: MYL)

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