UPDATE: Rodman & Renshaw Lowers Price Target on Celgene to $102

According to Rodman & Renshaw, Celgene CELG price target is lowered to $102. Rodman & Renshaw said that it continues to view CELG as its top large-cap pick . We derive our target price using a Discounted Cash Flow (DCF) valuation and our standardized CAGR approach. We arrived at our free cash flow estimates for 2012 through 2015 by forecasting sales and individual expenses in each year.” Celgene closed yesterday at $63.66.