These Analysts Revise Their Forecasts On Amgen After Q3 Results
Portfolio Pulse from Lisa Levin
Amgen Inc reported mixed Q3 results with sales of $6.90 billion, slightly missing the consensus of $6.94 billion. However, adjusted EPS increased 6% to $4.96, beating the consensus of $4.66. The company also revised its FY23 guidance. Following the earnings announcement, Morgan Stanley reduced its price target on Amgen from $300 to $291, while RBC Capital increased its target from $253 to $256. Amgen shares gained 1.1% to trade at $258.52 on Wednesday.
November 01, 2023 | 6:18 pm
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Amgen's mixed Q3 results and revised FY23 guidance led to adjustments in price targets by Morgan Stanley and RBC Capital. The stock gained 1.1% following the announcement.
Amgen's Q3 results were mixed with a slight miss on sales but a beat on EPS. The company also revised its FY23 guidance upwards. These factors likely contributed to the adjustments in price targets by analysts and the increase in the stock price.
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