UPDATE: Jefferies Raises PT on Celgene Corporation from $75 to $80

Jefferies reiterated a Buy rating on Celgene Corporation CELG and raised its price target from $75 to $80. Jefferies commented, “CELG beat 2Q estimates for Revlimid sales and increased 2012 EPS guidance. We remain confident in the long-term prospects for Revlimid driven by maintenance duration and new indications. We are raising our price target from $75 to $80.” Celgene Corporation closed at $67.49 on Thursday.