BMO Capital analyst Evan Seigerman raised the firm’s price target on Incyte (INCY) to $60 from $52 but keeps an Underperform rating on the shares after its Q2 earnings beat. While the firm is encouraged by earnings, there is work to be done, the analyst tells investors in a research note. BMO adds that it “appreciates the perspective of impartiality” when assessing internal and external growth opportunities, but Incyte’s modest cash positioning could be growth-limiting for transactions.
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