RBC Capital analyst Brian Abrahams downgraded Intra-Cellular (ITCI) to Sector Perform from Outperform with a price target of $132, up from $108, to reflect the proposed takeover by Johnson & Johnson (JNJ). The firm expects the stock to trade roughly in line with the proposed acquisition price going forward. RBC sees relatively limited risk of regulatory hurdles that would otherwise derail the proposed acquisition.
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