Amgen stock price target cut, holds outperform on prospects By Investing.com
On Tuesday, RBC Capital Markets adjusted its price target on Amgen (NASDAQ:) shares, reducing it to $324 from the previous $330, while maintaining an Outperform rating on the stock. The adjustment comes amid RBC Capital’s analysis of the company’s growth prospects, supported by its established product line, recent acquisitions, and an emerging pipeline of treatments.
The firm’s analyst highlighted Amgen’s ability to sustain growth in future years, bolstered by its established products, assets acquired from Horizon Therapeutics (NASDAQ:) (referred to as HZNP assets), and the development of new drugs.
The analyst noted that Amgen stands out as a high-quality biotech firm, not only in relative terms but also considering its dividend yield,…
