Stifel Maintains Buy on Biogen, Lowers Price Target to $287
Portfolio Pulse from Benzinga Newsdesk
Stifel analyst Paul Matteis has maintained a Buy rating on Biogen (NASDAQ:BIIB) but has reduced the price target from $315 to $287. This adjustment reflects a more conservative valuation of the company's prospects.

December 14, 2023 | 2:10 pm
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Stifel analyst Paul Matteis maintains a Buy rating on Biogen but lowers the price target from $315 to $287, indicating a continued positive outlook albeit with a reduced growth expectation.
The reduction in Biogen's price target by Stifel suggests a more cautious view on the company's future performance. However, maintaining a Buy rating indicates that the analyst still sees potential upside, albeit less than previously estimated. This could lead to a neutral short-term impact on the stock as the market digests the mixed signals of a lower price target with a continued positive rating.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100