Cerevel Therapeutics price target raised to $45 from $30 at Wells Fargo

Wells Fargo raised the firm’s price target on Cerevel Therapeutics (CERE) to $45 from $30 and keeps an Equal Weight rating on the shares. The firm cites AbbVie’s (ABBV) announcement that it will acquire Cerevel for $8.7B or $45 per share. The deal is expected to close mid-2024.