Stifel raised the firm’s price target on Exelixis (EXEL) to $36 from $30 and keeps a Hold rating on the shares. There was “minimal drama” given management’s recent pre-announcement of Q4 product sales and issuance of FY25 financial guidance, notes the analyst, whose increased price target incorporates reduced FY25-plus operating expense growth and the year-end 2025 completion of the remaining roughly $294M in share repurchase authorization.
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