Baird Boosts Target on Celgene (CELG) On Possible Surprise Vidaza Upside

Baird bumped its price target on Celgene (NASDAQ: CELG) higher from $78 to $80 following data showing Vidaza saw a 2.5% price increase effective March 30.

Business as usual continues for Vidaza as investors await the end of days for the drug, the firm notes.

"While we, the Street and CELG's FY12 guidance all assume a 2H12 US generic entrant, we note that should no such challenger emerge this year, our model suggests $0.10 of potential EPS upside," the analyst said. They remain buyers of the stock.

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 $78.20 yesterday.

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