Mizuho analyst Salim Syed upgraded Incyte (INCY) to Outperform from Neutral with a price target of $121, up from $90. The firm has higher confidence in the company’s pipeline following the “promising” myelofibrosis Phase 1 data. Mizuho now sees potential for Incyte’s pipeline to “soften” the Jakafi loss of exclusivity in 2028 and provide growth from 2030 onward.
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