UPDATE: Stifel Nicolaus Cuts PT to $19 on InterMune on Esbriet Pre-Announcement

Stifel Nicolaus reiterated its Buy rating on InterMune ITMN but lowered its price target from $22 to $19. Stifel Nicolaus commented, "Our 12-month target price of $19/share (previously $22/share) is based on the midpoint of our P/E multiple (25x our FY17E fully-taxed/diluted non-GAAP EPS estimate of $1.83 discounted at 20%-25%/year) and DCF-based methodologies. Our current estimates/valuation continue to assume Esbriet sales in Europe-only (but include U.S. development costs) and our probability-adjusted U.S. sales estimates (peak sales of >$1 billion) generate an additional $30+ per share of DCF-based optionality that remains excluded from our model." InterMune closed at $10.46 on Thursday.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: Analyst ColorPrice TargetIntraday UpdateAnalyst RatingsStifel Nicolaus
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!