Morgan Stanley reiterated an Overweight rating and $135 price target on Gilead (GILD) after the U.S. Supreme Court upheld the constitutionality of the U.S. Preventive Services Task Force, thereby preserving the federal mandate requiring insurers to cover preventive services, such as HIV pre-exposure prophylaxis, without cost-sharing. The firm views this outcome as favorable for Gilead, supporting continued broad access to PrEP options, including Gilead’s Descovy or Yeztugo. Morgan Stanley continues to see upside to the Yeztugo launch, which should be a positive driver for Gilead shares.
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