Stifel Reiterates Buy Rating on Revolution (RVMD): Will Remain Independent

Stifel analyst Laura Prendergast reiterated a Buy rating and $85.00 price target on Revolution (NASDAQ: RVMD).

The analyst commented, "News regarding ABBV being in advanced talks to acquire RVMD was circulating this afternoon - this news was later refuted by ABBV, but we have gotten a lot of questions on what take out valuation could make sense for RVMD. We were surprised by the timing of this speculation, given that RVMD management has recently given the impression that they intend to remain independent near term. However, if it were to be acquired at this stage, we think RVMD could easily go in the $30B+ range. Our target price and rating are currently under review as we further evaluate impact of this RVMD M&A speculation; our current target price does not factor in an M&A premium. "

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

Shares of Revolution closed at $102.71 yesterday.

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