Celgene (CELG): Stock looks bottomed - Citigroup
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Price: $108.24 --0%
Rating Summary:
7 Buy, 27 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
7 Buy, 27 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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From Notable Calls
Citigroup is out positive on Celgene (NASDAQ: CELG) reiterating Buy and $82 tgt after the co announced that the 30-day period for the Federal Trade Commission (FTC) review of its proposed merger with Pharmion under the Hart-Scott-Rodino Act has expired. The companies did not get any questions from FTC.
In Citi's view, the stock is now close to a bottom and they believe investors concerns about
Q4 Revlimid sales and '08 guidance are fully reflected in the stock. Thus, they like the risk/reward profile since they believe that the $230M Revlimid consensus sales estimate in Q4 is achievable (Citi at $224M). The firm does not believe that Velcade has impact Revlimid at this point.
They believe that these estimates are achievable and anticipate that Celgene will provide a conservative guidance on Monday, Jan. 7th, that is largely in the neighborhood of these estimates. Thus, they like the risk/reward profile and believe that the stock
is close to a bottom.
Notablecalls: CELG looks bottomed out here. I would buy the stock here.
For more calls go here http://notablecalls.blogspot.com/
Citigroup is out positive on Celgene (NASDAQ: CELG) reiterating Buy and $82 tgt after the co announced that the 30-day period for the Federal Trade Commission (FTC) review of its proposed merger with Pharmion under the Hart-Scott-Rodino Act has expired. The companies did not get any questions from FTC.
In Citi's view, the stock is now close to a bottom and they believe investors concerns about
Q4 Revlimid sales and '08 guidance are fully reflected in the stock. Thus, they like the risk/reward profile since they believe that the $230M Revlimid consensus sales estimate in Q4 is achievable (Citi at $224M). The firm does not believe that Velcade has impact Revlimid at this point.
They believe that these estimates are achievable and anticipate that Celgene will provide a conservative guidance on Monday, Jan. 7th, that is largely in the neighborhood of these estimates. Thus, they like the risk/reward profile and believe that the stock
is close to a bottom.
Notablecalls: CELG looks bottomed out here. I would buy the stock here.
For more calls go here http://notablecalls.blogspot.com/
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