Goldman Sachs Upgrades Incyte (INCY) to Conviction Buy
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Goldman Sachs analyst Salveen Richter upgraded Incyte (NASDAQ: INCY) from Buy to Conviction Buy with a price target of $111.00 (from $102.00).
The analyst says the pipeline offers M&A optionality and believes the company scans as an attractive M&A target given the valuation is below the median NTM EV.Sales multiple for deals over the prior 11-year period.
Richter sees "significant value" on the company's commercial business and pipeline.
Shares of Incyte closed at $73.54 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change, Hot Comments, Hot Upgrades, Upgrades
Related EntitiesGoldman Sachs Conviction Buy List, Goldman Sachs
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