Goldman Reiterates Neutral On InterMune, Lowers PT

In a note out today, Goldman Sachs reiterated a Neutral rating on InterMune (Nasdaq: ITMN) while lowering its price target on the stock to $18 from $22. The new price target is still well above where the shares currently trade.

"In our view the Esbriet launch is off to a decent start, but we believe that uncertainty on future pricing of Esbriet in Germany and other EU countries creates an overhang that is likely to persist through the middle of 2012," Goldman said in the note.

Shares of InterMune are up almost 5% today.