Deutsche Bank Boosts Price Target on Genentech (DNA) to $85
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Deutsche Bank raised its price target on Genentech (NYSE: DNA) from $83 to $85, maintaining their Buy rating, following Q2 results. The firm noted that while EPS was light, Avastin sales are finally growing again.
The firm said, "Avastin US sales of $650M best consensus by ~$5M and importantly grew sequentially for the first time since 3Q07. We think the number was real & sustainable, driven by increased uptake in breast cancer."
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