UPDATE: Credit Suisse Reiterates Outperform Rating, Raises PT on Biogen Idec
In a report published Monday, Credit Suisse reiterated its Outperform rating on Biogen Idec (NASDAQ: BIIB), and raised its price target from $165.00 to $175.00.
Credit Suisse noted, “We now model BG12 2018 peak revenues of $4.0B (previously $3.0B). As a direct consequence we have increased our out year revenue and EPS estimates by around 27% and 30%, respectively, and our TP to $175 (previously $165). Our modeling work further strengthens our view that BG12 could revolutionize (rather than evolve) the MS market and see further putative upside to our BG12 estimates. We will be attending ECTRIMS this week to further research the assumptions behind our global MS modeling (and obviously test out the restaurants in the gastronomic capital of France).”
Biogen Idec closed on Friday at $152.53.
Latest Ratings for BIIB
|Jul 2014||Credit Suisse||Maintains||Outperform|
|Jul 2014||Deutsche Bank||Maintains||Buy|
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.