Amgen (AMGN) Price Target Raised to $138 at Deutsche Bank

August 26, 2013 1:50 PM EDT Send to a Friend
Get Alerts AMGN Hot Sheet
Price: $162.81 +0.08%

Rating Summary:
    15 Buy, 13 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 13 | Down: 18 | New: 41
Trade AMGN Now!
Join SI Premium – FREE
Deutsche Bank today maintained a Buy on Amgen (NASDAQ: AMGN) and raised its price target to $138.00 (from $115.00). Analyst Robyn Karnauskas thinks the company's acquisition of Onyx (Nasdaq: ONXX) will create value.

"We expect this deal to be -2% dilutive for AMGN in 2014 and 3% accretive in 2015. Our calculations suggest significant annual accretion (>20%) post 2018. We model ~25% synergies for ONXX SG&A & R&D, which should save ~$225M annually at peak. We see 2014/2015/2016 EPS at $8.43/$9.09/$9.51 vs. $8.53/$8.87/$8.84 previously. We now see AMGN Revenues and EPS growing at CAGRs of 3% & 9%, respectively (previously 0% and 5%) by 2020," said Karnauskas.

For an analyst ratings summary and ratings history on Amgen (NASDAQ: AMGN) click here. For more ratings news on Amgen click here.

Shares of Amgen closed at $105.60 yesterday.


Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In





Related Categories

Analyst Comments, Analyst EPS View, Analyst PT Change

Related Entities

Deutsche Bank, Definitive Agreement

Add Your Comment