Stock Insights: Celgene, Citigroup, Riverbed Technology, Dell, CSX June 11th
Celgene Corporation (NASDAQ:CELG): After speaking with management, Jefferies says Celgene has not been asked by the European Medicines Agency to participate in oral hearings as part of Revlimid’s final regulatory review. Jefferies finds this encouraging and says it remains positive on the prospects of the expected EU decision in June. The firm keeps a Buy rating on Celgene shares with an $85 price target.
Citigroup, Inc. (NYSE:C): UBS raised Citigroup estimates based on lower interest rate expense given the $4.6B Trust Preferred Securities redemption. Shares are Buy rated with a $36 price target.
Riverbed Technology, Inc. (NASDAQ:RVBD): UBS lowered Riverbed estimates on following checks that indicate weakness in European and Enterprise demand, and the modest ramp for Granite. Shares are Neutral rated.
Dell Inc. (NASDAQ:DELL): Bernstein believes that Dell is likely to lower or eliminate its long-term revenue growth target, currently at 5%-7%, during its Analyst Day on June 13. However, the firm thinks that the stock’s valuation is compelling and it maintains an Outperform rating.
CSX Corp. (NYSE:CSX): Jefferies says that CSX on Friday raised export coal tariffs on average by 4.3% from March 31 rates, marking a change in trend from previous rates. The firm recommends shares of CSX at current levels with a Buy rating and $28 price target.
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