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Fly News Breaks for July 27, 2015
BIIB
Jul 27, 2015 | 07:04 EDT
Baird analyst Brian Skorney downgraded Biogen to Neutral from Outperform and cut his price target for shares to $316. The stock closed Friday down $85.02 to $300.03. Skorney sees "diminished" growth prospects for the company and wants greater confidence in management's guidance before recommending the stock. He admits, however, that his downgrade "may be too little, too late." JPMorgan analyst Cory Kasimov this morning called Biogen's risk/reward compelling following Friday's selloff.
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