BioCentury on BioBusiness,
Analyst Picks & Changes
Analyst picks & changes
Published on
Monday, October 29, 2012
|
Company
|
Bank
|
Analyst
|
Coverage
|
Opinion
|
Wk
chg
|
10/26
cls
|
|
Amgen
Inc. (NASDAQ:AMGN)
|
BMO
Capital Markets
|
Jim
Birchenough
|
Price
target
|
Market
perform
|
1%
|
$87.63
|
|
|
Deutsche
Bank
|
Robyn
Karnauskas
|
Upgrade
|
Buy
(from hold)
|
|
|
|
|
Jefferies
|
Eun
Yang
|
Price
target
|
Buy
|
|
|
|
Birchenough
raised his target to $83 from $74 after Amgen reported a 3Q12 adjusted
diluted EPS of $1.67, above the Street's expectation of $1.47. Revenues were
$4.3B, beating the Street's $4.25B estimate. Amgen increased its 2012 revenue
guidance to $17.2-$17.3B from $16.9-$17.2B and its 2012 EPS guidance to
$6.50-$6.60 from $6.20-$6.35 (see "EPS Watch," A20).
Birchenough raised his 2012 revenue estimate to $17.25B from $17.04B and his
2012 EPS estimate to $6.61 from $6.30.
|
|
Karnauskas
also raised her target to $108 from $84 on earnings. She believes Amgen's "emerging
pipeline represents earnings upside" starting in 2014.
|
|
Yang
raised her target to $100 from $92 on earnings. She said the company is a "good
value play" and increased her 2012 EPS estimate to $6.62 from $6.43.
|
|
Gilead
Sciences Inc. (NASDAQ:GILD)
|
Leerink
|
Howard
Liang
|
Price
target
|
Outperform
|
1%
|
$67.07
|
|
|
Needham
|
Alan
Carr
|
Price
target
|
Buy
|
|
|
|
Liang
raised his target to $79 from $68 after Gilead reported 3Q12 financial
results that beat the Street's estimates and increased its full-year sales
guidance to $9.1-$9.2B from $8.8-$9.0B. Non-GAAP diluted EPS for the quarter
was $1, beating the Street's estimate by $0.06, but down from $1.02 in 3Q11.
Revenues grew 14% to $2.4B, above the Street's estimate of $2.3B and above
Liang's estimate of $2.28B (see "EPS Watch," A21). Liang
raised his 2012 revenue guidance to $9.41B from $9.25B and his 2013 revenue
guidance to $10.24B from $10.16B.
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