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Canaccord Bullish on Celgene Corporation (CELG) on Back of Revlimid Beat

In a research report published Thursday, Canaccord analyst John Newman reiterated a Buy rating on shares of Celgene Corporation (NASDAQ:CELG) with a price target of $156, after the pharma giant reported strong third-quarter financials driven by blowout Revlimid sales, prompting management to raise 2016 financial guidance for the third straight quarter. Celgene shares reacted to the earnings beat, rising nearly 6%.

Newman noted, “We view the strength...