Morgan Stanley downgraded Intra-Cellular (ITCI) to Equal Weight from Overweight with a price target of $132, up from $102, after Johnson & Johnson (JNJ) announced that it has entered into an agreement to acquire Intra-Cellular. The firm’s revised rating is based on the expectation that the deal goes through as announced.
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Read More on ITCI:
- Morning Movers: Intra-Cellular surges following deal to be bought by J&J
- Johnson & Johnson to Acquire Intra-Cellular Therapies
- M&A News: Intra-Cellular Stock Rallies 36% on News of $14.6B Acquisition by Johnson & Johnson
- Johnson & Johnson to acquire Intra-Cellular for $132.00 per share in cash
- Johnson & Johnson exploring bid for Intra-Cellular Therapies, Bloomberg reports