- "Unlike commoditized generics, controlled substances enjoy limited competition," Morgan Stanley's Christopher Caponetti notes, initiating coverage of Mallinckrodt (MNK +4%) at Buy.
- The company's position as "a leader in controlled substance generics" should pay off as prices rise over time.
- Price target is $60, representing upside of 15% from Tuesday's close.
Morgan Stanley starts Mallinckrodt at Buy
Jan 8 2014, 14:44 ET