Amgen reiterated by Merrill at buy

Amgen Inc. was reiterated by Merrill Lynch analyst Eric Ende at a buy rating with a price target on the stock of $87 per share, saying the company's late-stage pipeline potential is still under-recognized. Merrill believes Amgen's pipeline sales could reach $8 billion by 2012. Amgen shares Monday declined $0.24, or 0.30%, to close at $81.07 on volume of 14,023,379 shares versus the three-month running average of 9,517,680 shares.

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