Piper Sandler analyst Christopher Raymond raised the firm’s price target on Amgen (AMGN) to $299 from $297 and keeps an Overweight rating on the shares after the company reached a deal to buy Horizon Therapeutics (HZNP). The analyst states that he sees measurable earnings accretion beginning in 2024 and a solid increase in the revenue trajectory by over 400bps by bolting this business onto Amgen’s existing infrastructure.
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Published first on TheFly
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