Amneal Pharmaceuticals price target lowered to $4 from $5 at Truist

Truist analyst Gregory Fraser lowered the firm’s price target on Amneal Pharmaceuticals to $4 from $5 and keeps a Buy rating on the shares as part of a broader research note updating the firm’s model on Pharmaceutical names. The analyst is reducing the firm’s gross margin assumptions for 2023 and beyond by about 100bps to reflect pressure on input costs and adverse sales mix.