Jefferies Ups Price Target on Cubist Pharmaceuticals (CBST) Following FY12 Rev Guidance

Jefferies raised its price target on Buy-rated Cubist Pharmaceuticals (NASDAQ: CBST) from $48 to $50 on solid FY12 revenue guidance.

The firm comments, "We view FY12 guidance of Cubicin U.S. sales (10-14% y/y)/total revenue (17-20% y/y) places CBST as both growth and value stock. With current valuation largely reflecting Cubicin potential alone, we see significant upside from pipeline products (CXA-201 in Ph3 and CB-183,315 entering Ph3 in 2Q12)."

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

Shares of Cubist Pharmaceuticals closed at $40.40 yesterday.

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