Gilead price target raised to $112 from $111 at Piper Sandler

Piper Sandler analyst Do Kim raised the firm’s price target on Gilead to $112 from $111 and keeps an Overweight rating on the shares. The company’s Q4 solidly beat estimates, driven by continued HIV growth and Veklury demand, the analyst tells investors in a research note. Piper believes the 2023 guidance reflects Gilead’s confidence in the commercial business.