Wells Fargo lowered the firm’s price target on Biogen (BIIB) to $140 from $165 and keeps an Equal Weight rating on the shares. The firm notes Biogen’s new launches have yet to gain strong momentum, and pipeline assets will not reach market for several years. Wells is modeling -2% top- and bottom-line CAGR for the next 5 years and thinks BD could be key to driving growth.
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