InterMune (ITMN) Downgraded at RBC Amid Valuation Call

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April 9, 2012 8:47 AM EDT
Get Alerts ITMN Hot Sheet
Price: $73.89 --0%

Rating Summary:
    8 Buy, 9 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 13 | Down: 14 | New: 11
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RBC Capital's Michael Yee downgraded shares of InterMune Inc. (NASDAQ: ITMN) from Outperform to Sector Perform Monday morning. Yee reduced his price target from $23 to $17.

The downgrade follows a 40 percent run-up since mid December. Yee is concerned with delays to Esbriet introductions in France, Spain and Italy. He believes the results from the Phase 3 Ascend trial could be pushed back to the first half of 2014.

The RBC analyst is positive on the stock over the long term and believes Esbriet will make it to the market with reasonable pricing.

With InterMune shares down 0.3 percent to $15.24 in pre-market action, Yee's new price target represents potential upside of about 12 percent.

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

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