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Fly News Breaks for January 16, 2019
INCY
Jan 16, 2019 | 05:44 EDT
UBS analyst Carter Gould downgraded Incyte to Neutral while raising his price target for the shares to $82 from $75. The 36% rally in the shares since December 24, 2018 has largely stemmed from sector consolidation while company fundamentals remained unchanged, Gould tells investors in a research note. As such, the analyst sees a more balanced risk/reward profile at current share levels. Further, over the first half of 2019, Gould does not see a clinical catalyst offering meaningful upside for Incyte shares.
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