Oppenheimer Starts Celgene (CELG) at Outperform
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Oppenheimer initiates coverage on Celgene (NASDAQ: CELG) with a Outperform rating and a price target of $141.00.
Analyst Leah Rush Cann commented, "We are initiating coverage of Celgene Corporation, a high-quality biotechnology company with exciting potential new products, with an Outperform rating. We estimate Celgene’s revenue will grow at a compound annual growth rate of 19% per year for the next five years, with product growth of 19.2% per year. Diluted GAAP earnings per share are estimated to grow at a CAGR of 31% over the next five years."
Shares of Celgene closed at $121.06 yesterday.
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