Gilead price target raised to $111 from $104 at Piper Sandler

Piper Sandler analyst Do Kim raised the firm’s price target on Gilead to $111 from $104 and keeps an Overweight rating on the shares. The analyst sees potential upside to guidance for both Trodelvy and Veklury. Kim believes strong Q4 HIV sales will support a return to pre-pandemic growth, while also providing confidence that HIV will grow low-to-mid single digits in FY23.