UPDATE: Credit Suisse Downgrades InterMune as Balanced Risk/Reward is Reflected in Price
In a report published Friday, Credit Suisse analyst Ravi Mehrotra downgraded the rating on InterMune (NASDAQ: ITMN) from Outperform to Neutral, but reiterated the $33.00 price target.
In the report, Credit Suisse noted, “Our $33 TP, Esbriet estimates, and P&L modeling remain unchanged (after our inclusion of US Esbriet revenues following positive ASCEND data earlier this week). With the stock price around our target price and the balance of risk/reward reflected in the stock price, we move ITMN to Neutral based on the key points/observations below.”
InterMune closed on Thursday at $30.65.
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