UPDATE: Jefferies Starts Celgene (CELG) at Buy

(Updated - September 9, 2015 6:42 AM EDT)

Jefferies initiates coverage on Celgene (NASDAQ: CELG) with a Buy rating and a price target of $140.00.

Analyst Brian Abrahams commented, "Even at a premium multiple, we see room for additional appreciation given CELG's best-in-class (15%) EPS CAGR, our expectations for continued strong commercial execution, their deep, low-risk pipeline with multiple potential blockbusters, and their relative insulation from sector risks. Favorite large-cap."

For an analyst ratings summary and ratings history on Celgene click here. For more ratings news on Celgene click here.

Shares of Celgene closed at $117.39 yesterday.

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