Guggenheim raised the firm’s price target on Sanofi (SNY) to EUR 110 from EUR 108 and keeps a Buy rating on the shares after the company announced its planned acquisition of Blueprint Medicines (BPMC). Following last week’s mixed results for itepekimab, which put additional pressure on the company to build out its mid to late stage pipeline, the firm likes this deal given its synergy with Sanofi’s portfolio and opportunities for broad expansion, the analyst tells investors.
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