Amgen assumed at Neutral from Overweight at Cantor Fitzgerald

As previously reported, Cantor Fitzgerald downgraded Amgen (AMGN) to Neutral from Overweight with a price target of $305, down from $340, as the analyst took over coverage of the stock. While the firm assigns MariTide “meaningful credit today” with 75% odds of success and a forecast for $10B unadjusted sales, it is cautious about it driving incremental value for shares from here over the near-to-medium term, the analyst tells investors.