UBS Downgrades Biogen to Neutral, Lowers Price Target to $276
Portfolio Pulse from Benzinga Newsdesk
UBS analyst Colin Bristow downgraded Biogen (NASDAQ:BIIB) from Buy to Neutral and reduced the price target from $311 to $276, indicating a more cautious outlook on the company's stock.
January 25, 2024 | 9:51 am
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NEGATIVE IMPACT
Biogen's downgrade by UBS from Buy to Neutral and a lowered price target from $311 to $276 suggests a tempered expectation for the stock's performance.
Analyst downgrades typically lead to a negative short-term reaction in the stock price as they reflect a less optimistic view on the company's future performance. The reduction in the price target further reinforces the expectation of a lower valuation.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100