Market Overview

UPDATE: BMO Capital Markets Reiterates Outperform Rating, Raises PT on Celgene Corporation

Share:

In a report published Monday, BMO Capital Markets reiterated its Outperform rating on Celgene Corporation (NASDAQ: CELG), and raised its price target from $101.00 to $113.00.

BMO Capital Markets noted, “We reiterate our Outperform rating on shares of CELG and increase our price target to $113. Review of longer-term estimates suggests that the high end of 2017 EPS guidance of $13-$14 is realistic and that an EPS CAGR of 23%+ should support further multiple expansion. We continue to believe that Abraxane pancreatic cancer data on January 24 will be better than expected, MM-020 frontline data for Revlimid will support front-line filing in Europe, and multiple levers remain available to exceed near-, intermediate- and long-term guidance.”

Celgene Corporation closed on Friday at $96.30.

Latest Ratings for CELG

DateFirmActionFromTo
Nov 2019DowngradesBuyHold
Nov 2019DowngradesOutperformNeutral
May 2019DowngradesOverweightEqual-Weight

View More Analyst Ratings for CELG
View the Latest Analyst Ratings

Posted-In: BMO Capital MarketsAnalyst Color Price Target Analyst Ratings

 

Related Articles (CELG)

View Comments and Join the Discussion!

Latest Ratings

StockFirmActionPT
ABBBarclaysInitiates Coverage On
DPLOWilliam BlairUpgrades
SUPVItau BBADowngrades
GGALItau BBADowngrades
BMAItau BBADowngrades
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Trading Daily
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com

UPDATE: BMO Capital Markets Upgrades Halozyme Therapeutics to Outperform, Raises PT

UPDATE: BMO Capital Markets Reiterates Market Perform Rating, Raises PT on Infosys Ltd.