Deutsche Bank Upgrades Biogen (BIIB) to Buy

Deutsche Bank upgraded Biogen (NASDAQ: BIIB) from Hold to Buy with a $129 price target, calling it the large cap biotech stock with the greatest opportunity for upside.

The firm cited: "1) Our analysis suggests CONFIRM will show BG-12 is more effective than Copaxone & DEFINE data will remain strong. Combo BG-12 & daclizumab Q3 data are under-appreciated. 2) We believe Tysabri will reach a positive inflection by YE:11 with most pts on drug being JCV negative in US. 3) Our due diligence suggests a greater likelihood of success for hemophilia trials in '12."

For more ratings news on Biogen click here and for the rating history of Biogen click here.

Shares of Biogen closed at $98.60 yesterday.

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