JMP starts coverage of Cephalon at strong buy

Jefferies & Co., Inc. analyst Charles C. Duncan began his coverage of Cephalon, Inc. with a strong buy rating and an $80 price target. The recent approval of Fentora could be re-awakening investors to Cephalon's potential, according to the analyst. Merrill sees a theoretical fair value of $39, although this scenario is unlikely. Shares of the Frazer, Pa.-based pharmaceutical company were up 4 cents, or 0.06%, at $61.79. (Nasdaq: CEPH)

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