Gilead price target raised to $105 from $100 at Wells Fargo

Wells Fargo raised the firm’s price target on Gilead (GILD) to $105 from $100 and keeps an Overweight rating on the shares. The firm notes Gilead’s beat and raise quarter was driven by HIV outperformance, big Veklury beat and lower-than-expected OpEx. Management provided positive commentary on PrEP launch and upcoming ASH data, Wells adds.