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Actionable news in MNK: MALLINCKRODT PUBLIC LIMITED COMPANY,

Mallinckrodt (MNK) Stock Price Target Reduced at Deutsche Bank

NEW YORK (TheStreet) -- Mallinckrodt's (MNK) stock price target was cut to $84 from $87 at Deutsche Bank. The firm maintained a "buy" rating on shares.

"We updated our MNK model to reflect: the company's move to a calendar fiscal year-end and the planned divestiture of its nuclear imaging business to IBA Molecular," the firm wrote in a note received today.

Last week, Mallinckrodt said it would sell its nuclear imaging business to IBA for about $690 million.

"We note the assumptions we are making for the removal of the nuclear business are preliminary and subject to change; we expect more granular...


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