RBC Capital analyst Gregory Renza upgraded Amgen to Outperform from Sector Perform with a price target of $300, up from $256. The 2024 catalyst set-up coupled with emerging clarity on out-year growth drivers is deserving of new credit as a diversifying commercial portfolio, new growth opportunities in the market, and pipeline optionality are better harmonized for sustainable share appreciation, the analyst tells investors in a research note.
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