Morgan Stanley raised the firm’s price target on Biogen to $351 from $345 and keeps an Overweight rating on the shares after Q4 revenues beat by about 4% and EPS beat by about 16%. 2023 guidance for revenues to be down by a mid-single digit percentage was generally in-line with consensus, added the firm, which says Alzheimer’s updates are the keys to driving the shares higher in 2023.
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