Credit Suisse Initiating Coverage On Intermune
Credit Suisse is out with a research report on Intermune, Inc (NASDAQ: ITMN) and it has an Outperform rating and a $37 price target on shares.
In a note to clients, Credit Suisse writes, "Yes, it's a product ramp story - but this one is different. Short the product ramp is the thesis de jour with HGSI, XNPT, SVNT (to name but a few) suffering from the DNDN/beta-avoiding exacerbated malaise in small/mid cap biotech during 2011. We initiate with an Outperform and $37 target price based on DCF-based valuation assumptions that factor in EU only Esbriet peak (2021) revenues of $738m. We note blue sky opportunity of >$60/share and view ITMN as a key pick within our mid/small cap coverage universe."
Shares of ITMN are up 36 cents to $25.22, a gain of 1.45%.
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