Shares of Mylan (MYL) - Get Report were up 1.2% in morning trading Monday after analysts at Barclays upgraded the stock to "overweight" from "equal weight" while also raising its price target to $50 from $47.
The new price target represents a potential 32% upside from the stock's previous closing price of $37.94.
Barclays analyst Douglas Tsao sees multiple catalysts ahead for the company, including the potential FDA approval of its generic version of multiple sclerosis treatment Copaxone, which could come as soon as next month.
The firm estimates the drug could see revenue of $180 million this year and $300 million next year.
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