Today’s 3 Best Stocks: Microchip Technology Inc. (MCHP), Biogen Idec Inc. (BIIB), Yum! Brands, Inc. (YUM)

Finally, biotech powerhouse Biogen Idec Inc. (NASDAQ:BIIB) advanced 2.6%, after receiving an upgrade from Citigroup Inc. (NYSE:C) to “buy” from “neutral,” and seeing its price target rise to $187 from $160. Earlier this week, Biogen agreed to pay Elan Corporation, plc (ADR) (NYSE:ELN) $3.25 billion for the full rights to multiple sclerosis drug Tysabri. Citi analyst Yaron Werber cited the expectation that Biogen will dominate the MS market, as well as the possible approval of Tecfidera, an all-oral MS drug, which could reach sales in excess of $4.2 billion by 2020 according to his estimates, as reasons for the upgrade. It’s really hard to argue against Werber’s analysis with Tysabri and Avonex providing such consistent gains for Biogen Idec already.

The article Today’s 3 Best Stocks originally appeared on Fool.com and is written by Sean Williams.

Fool contributor Sean Williams has no material interest in any companies mentioned in this article. You can follow him on CAPS under the screen name TMFUltraLong, track every pick he makes under the screen name TrackUltraLong, and check him out on Twitter, where he goes by the handle @TMFUltraLong.The Motley Fool owns shares of McDonald’s and Citigroup. Motley Fool newsletter services have recommended buying shares of LinkedIn and McDonald’s, as well as creating a bull call spread position in McDonald’s.

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