Morgan Stanley raised the firm’s price target on Amgen (AMGN) to $332 from $326 and keeps an Equal Weight rating on the shares. Amgen posted an in-line Q1 on revenue, but beat on EPS driven largely by lower SG&A costs and taxes, notes the analyst, who adjusted the firm’s model for the results and raised guidance.
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Read More on AMGN:
- Amgen price target raised to $327 from $325 at Truist
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- Amgen raises FY26 adjusted EPS view to $21.70-$23.10 from $21.60-$23.00
- Amgen reports Q1 adjusted EPS $5.15, consensus $4.77
- Amgen sees FY26 CapEx $2.6B; share repurchases not to exceed $3B