Wells Fargo analyst Jacobs Hughes raised his price target for Emergent BioSolutions (EBS) to $75 from $66 following quarterly results as he came away with increased confidence in the outlook and as he believes fiscal year 2020 guidance is likely conservative. Longer-term, the analyst likes Emergent BioSolutions' potential to further consolidate the biodefense sector, and likes the shares for a trade on a potential favorable ruling in the Teva (TEVA) patent litigation trial per his patent consultant feedback. Hughes reiterates an Overweight rating on Emergent BioSolutions shares.