Gilead Sciences Shares Trade Higher After Bullish Analyst Upgrades Stock
Portfolio Pulse from AJ Fabino
Shares of Gilead Sciences, Inc. (NASDAQ:GILD) are trading higher after Bank of America Securities upgraded the stock, citing underappreciated growth potential in its core HIV business and emerging hematology/oncology franchises. Analyst Geoff Meacham upgraded Gilead Sciences to a Buy rating from a Neutral rating, and raised the price target to $95 from $88. The company's HIV franchise is expected to see growth in the low to mid-single digits in the near future, and its 'next-generation' asset, Lenacapavir, shows considerable promise.
September 08, 2023 | 3:28 pm
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Gilead Sciences' stock is trading higher after an upgrade from Bank of America Securities. The company's HIV franchise and 'next-generation' asset, Lenacapavir, are expected to drive growth.
The upgrade from Bank of America Securities, along with the raised price target, indicates a positive outlook for Gilead Sciences. The expected growth in the company's HIV franchise and the potential of its 'next-generation' asset, Lenacapavir, are likely to positively impact the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100