Biogen price target raised to $200 from $197 at BofA

BofA raised the firm’s price target on Biogen (BIIB) to $200 from $197 and keeps a Neutral rating on the shares ahead of Q1 results. Biogen’s first quarter should be relatively uneventful with the near-term debate still centered on the durability of the base business with new growth drivers still early, the firm told investors in a research note. BofA said for a major earnings surprise or meaningful catalyst updates, the firm suspects the narrative is unlikely to change much.