0834 ET - Biogen looks like it's heading down an increasingly promising path, JPMorgan analysts say in a note. The company is approaching several key data points next year including for felzartamab, a potential antibody-mediated rejection treatment that could represent a more than $2 billion opportunity, the analysts say. They also expect data from Biogen's litifilimab in cutaneous lupus erythematosus. "These assets (as well as several other longer-term opportunities) point to an increasingly attractive long-term growth profile/setup for shares," the analysts say, upgrading the stock to overweight from neutral. "Net-net, we see BIIB as one of the more attractive names to own heading into 2027 as the company evolves beyond just a Leqembi story." Biogen is up 3.6% premarket.