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Stock Market & Financial Investment News

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February 7, 2013
07:19 EDTELN, BIIBBiogen price target raised to $170 from $150 at RBC Capital
After Biogen (BIIB) acquired Elan's (ELN) stake in Tysabri, RBC Capital thinks the deal makes sense from a strategic financial perspective, as it will raise Biogen's margins and lower its tax rate. The firm thinks the company's SG&A as a percentage of revenue will also decline following the deal and it maintains an Outperform rating on the shares.
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