Amgen price target lowered to $220 from $240 at Credit Suisse

Credit Suisse analyst Trung Huynh lowered the firm’s price target on Amgen to $220 from $240 and keeps an Underperform rating on the shares. The firm notes Q4 2022 and full year 2023 guide highlights competition and pricing pressures, while full year 2023 earnings were boosted by accounting changes.