Biogen Idec Inc. (NASDAQ:BIIB): The Committee for Medicinal Products for Human Use made a decision to grant Tecfidera new active substance status, meaning that Biogen has regulatory exclusivity for the drug in Europe and will not need to contend with a potential generic challenge for 10 years, news that Wells Fargo views as an “important victory” for the company. Wells expects “significant upside” for shares of Biogen on Friday’s news but keeps a Market Perform rating on the name, saying that the stock will likely fully value Tecfidera’s global prospects given the rally.
Liquidity Services Inc. (NASDAQ:LQDT): RW Baird lowered its price target on Liquidity Services to $30 from $37 following its fourth-quarter results, noting the company’s lowered margin guidance and cautious management tone. The firm believes that the liquidation marketplace has meaningful potential and thus maintains its Outperform rating on Liquidity Services.
U.S. Steel (NYSE:X): Wells Fargo downgraded U.S. Steel to Underperform from Market Perform, citing valuation and the expectation that prices will be weaker in the first half of 2014. Wells lowered its price target range for U.S. Steel shares to $17-$21 from $23-$27.
Intuit Inc. (NASDAQ:INTU): Oppenheimer raised its price target for shares of Intuit to $77 from $72 following the company’s first-quarter results, and the firm reiterates an Outperform rating on Intuit stock.