Amgen price target raised by Merrill Lynch

Amgen Inc. was maintained by Merrill Lynch analyst Eric Ende at a buy rating and the price target on the stock was raised to $104 per share from $87 on assertions that there no adverse effect from 2005 Medicare reimbursement changes, strong business momentum carrying into 2006 and significant pipeline catalysts seen in the next six months. Amgen shares Wednesday were down $0.63, or 0.74%, at $84.35 on volume of 9,245,526 shares versus the three-month running average of 9,963,320 shares.

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