InterMune upgraded to Buy from Neutral at UBS

theflyonthewall.com

UBS believes InterMune's (ITMN) ASCEND study for its IPF drug has a greater probability of success vs. Biogen Idec's (BIIB) BIBF1120 competing drug and that management has lowered EU expectations enough that investors will see a value opportunity into the data. Price target raised to $15 from $9.

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