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Fly News Breaks for January 31, 2020
ALXN
Jan 31, 2020 | 08:11 EDT
RBC Capital analyst Kennen MacKay reinstated coverage of Alexion with an Outperform rating and $135 price target, with the stock coming off the Restricted designation after the completion of Achillion acquisition. The analyst is positive on Alexion's growth prospects and "attractive" valuation amid its continued clinical, commercial, and business development efforts. MacKay believes that Alexion warrants a multiple rerating this year heading into a "very catalyst rich" 2021 and beyond.
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