Truist upgraded Gilead (GILD) to Buy from Hold with a price target of $127, up from $108, after the company beat Q2 expectations for sales and EPS, driven by the HIV segment. Strength in HIV also prompted a guidance raise guidance, notes the analyst, who is “highly encouraged” by the leading indicators of demand for Yeztugo. Cell therapy continues to face challenges, but the firm thinks this will be “invigorated” with Anito-cel, while it continues to think Gilead has a “best-in-class, unparalleled HIV business,” the analyst added.
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