Vertex (VRTX) PT Trimmed to $232 at BMO Capital

BMO Capital analyst Do Kim lowered the price target on Vertex (NASDAQ: VRTX) to $232.00 (from $235.00) while maintaining a Outperform rating info Q3.

Kim commented, "We update our model, ahead of 3Q19 earnings, to reflect recent acquisitions and upfront payments for collaborations. While our changes are primarily to GAAP estimates, the use of cash lowers our valuation and target price to $232 from $235. We believe Vertex could beat 3Q estimates, as recent reimbursement access to Scotland could be an upside to estimates."

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