BWS Financial Boosts Its Price Target on Gilead Sciences (GILD) to $60
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BWS Financial raises its price target on Gilead Sciences (Nasdaq: GILD) to $60 from $50, maintaining its Buy rating.
Analyst Hamed Khorsand said, "The shares were able to surpass our target and first quarter results are poised to be better than expected. Truvada and Atripla sales remained strong in the first quarter. At $60, GILD shares would be trading at slightly less than 30 times our 2008 earnings estimate and 25 times our 2009 estimate. The premium in the trading multiple for GILD shares is due to the Company’s strength in the HIV drugs market. Investors are looking for steady revenue streams in the current market environment and GILD fills such a requirement." [LJ]
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