Wells Fargo analyst Mohit Bansal raised the firm’s price target on Amgen (AMGN) to $320 from $265 and keeps an Overweight rating on the shares. The firm says Amgen’s emerging pipeline gives it more confidence in long-term growth. Horizon Therapeutics (HZNP) deal and accretion due to this could help support near-term growth for the company, Wells adds. The firm also notes that plenty of catalysts make it cleaner story in 2024.
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