Halister News

(Bloomberg) -- Bluebird indicated $132.70-$142.10 pre-market vs $131.70 close after Evercore analyst Josh Schimmer upgraded to outperform from in-line, PT $152 from $102, seeing a favorable setup heading into ASH meeting in December, and following through to European Hematology Association (EHA) next year in June.

• Says BLUE shares have enough value drivers to fuel outperformance with a steady flow of incrementally positive news
• Believes BLUE is now on the right track for a strong clinical profile to emerge at ASH and over the following 12 months
• Optimistic that the latest round of enhancements will show that the LentiGlobin profile is on a compelling trajectory for sickle cell disease; says while ASH may not be the pinnacle of the drug’s potential, it will be further improved by addition of Mozobil stem cell mobilization next year
• Separately, downgrades BOLD to inline from outperform, PT $29 from $23, saying shares are near fully-valued to reflect success in its gene therapy in X-linked myotubular myopathy (XLMTM) and Crigler Najjar (CNJ)
  • Says while optimistic that BOLD is on the cusp of generating exciting data in these two rare diseases, their incidence and low prevalence warrants caution on prospects for meaningful upside from current share price
  • Sees room for significant downside should initial data readouts disappoint or achieve only modest efficacy
• BLUE rose 113% this year while Nasdaq Biotech Index rose 28%
• BOLD up ~57% since Evercore initiated coverage on August 16

To contact the reporter on this story: Tatiana Darie in New York at tdarie1@bloomberg.net To contact the editors responsible for this story: Arie Shapira at ashapira3@bloomberg.net Steven Fromm

(Bloomberg) -- Following are forecasts for today’s economic releases as compiled by Bloomberg News.

• Empire 20.4; range 17 to 26 (41 estimates)
• Expectation is down slightly from high September level. -- Wrightson
• "Continued diminished expectations regarding fiscal stimulus -- the latest example being tax policy -- may have caused this sentiment survey to deteriorate during October." -- Bloomberg Intelligence

To contact the reporters on this story: Chris Middleton in Washington at cmiddleton2@bloomberg.net; Vincent Del Giudice in Denver at vdelgiudice@bloomberg.net To contact the editors responsible for this story: Alex Tanzi at atanzi@bloomberg.net Kristy Scheuble

(Bloomberg) -- Bund futures (RX1) technical levels in focus.

• Daily Trend Bias: Bullish
• Comment: Friday’s topside resolution of a ‘triangulation’ in place since late September bolsters the bullish bias ahead of the breakout; important Fibonacci hurdles at 162.21 and 162.68 now guard the September peak at 163.43; daily MACD has crept its way above zero line which supports bullish momentum conditions in coming days
  • Resistance: 162.21; 162.36; 162.68
  • Support: 161.89; 161.82; 161.63-57; 161.42
• NOTE: Roll-adjusted by difference in GFUT
• NOTE: Sejul Gokal is a FICC technical strategist who writes for Bloomberg. The observations he makes are his own and are not intended as investment advice

To contact the reporter on this story: Sejul Gokal in London at sgokal1@bloomberg.net To contact the editors responsible for this story: Ven Ram at vram1@bloomberg.net Anil Varma

(Bloomberg) -- (Machine translation provided by Google and reviewed by Bloomberg editors.)

• Bankhaus Lampe raises rating on shares of Hochtief to Buy from Hold citing the possible takeover of Abertis 
  • Raises price target to EU190 from EU147
  • Sees probability of takeover of Abertis at 80%
• Acquisition of the Spanish toll road operator would significantly change the investment case, Bankhaus Lampe analyst Marc Gabriel writes in note
• Group could generate Ebitda of EU5b, three quarters of which would come from toll business
• Group could advance to “new level in terms of earnings and cash flow generation”
• Risks of higher debt should be limited, as Hochtief can draw on PPP know-how to plan, build, operate infrastructure projects in the future
• Despite a possible large capital increase and without considering possible synergies, the price of Hochtief shares could rise above EU200

Original Story: Hochtief auf Kaufen erhöht; mehr Potenzial mit Abertis: Lampe To contact the translator on this story: Mara Bernath in Zurich at mbernath1@bloomberg.net Reporter on the original story: Joerg Engelbert Jaeger in Frankfurt at jjaeger7@bloomberg.net Editors responsible for the original story: Erhard Krasny at ekrasny@bloomberg.net David Verbeek