Amgen price target raised by Merrill Lynch

Amgen Inc. was reiterated by Merrill Lynch analyst Eric Ende at a buy rating, but the price target was raised to $87 from $77 following second-quarter earnings. In addition, Merrill raised its 2005 earnings estimate to $3.10 per share from $2.85 and for 2006 to $3.52 from $3.30, saying the company is making significant pipeline progress. Amgen shares Wednesday gained $10.65, or 15.10%, to $81.17 on volume of 81,042,901 shares versus the three-month running average of 8,010,400 shares.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.