Bluebird Bio downgraded to Buy from Conviction Buy at Goldman Sachs. Goldman Sachs analyst Salveen Richter removed Bluebird Bio from his firm’s Americas Conviction List but keeps a Buy rating on the name with a $288 price target. The rating change is is not driven by concerns around Bluebird’s pipeline execution or emerging competitive threats, Richter tells investors in a research note. The analyst just believes appreciation of key aspects of his investment thesis are better reflected in the shares at current valuation levels.
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