Auriga reiterates its Buy rating on Celgene CELG as company guidance surpasses street consensus.
Auriga says, "We believe the guidance, while not an easy goal to hit, is achievable if management
tightly controls expenses. We are eager to learn more about the cost side of the business at the scheduled conference call on January 26 at 9AM ET. We revised our EPS estimates downward slightly from $4.83 to $4.79 while applying a higher P/E multiple of 17x for the peer group, and we obtain a price target of $82."
CELG closed at $73.32 per share on Thursday.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
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!
Already a member?Sign in