Baird Reiterates an 'Outperform' on Amgen (AMGN); Anticipate a Strong Q212

July 16, 2012 7:31 AM EDT
Get Alerts AMGN Hot Sheet
Price: $155.77 --0%

Rating Summary:
    18 Buy, 14 Hold, 2 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 23 | Down: 31 | New: 34
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Baird reiterates an 'Outperform' on Amgen (NASDAQ: AMGN) price target raised to $79.00.

Analyst, Christopher Raymond, said, "Raising our Q212 revenue, EPS estimates and anticipate meaningful upside to expectations. However, with the stock's multiple close to its historical high and with an increasingly leveraged balance sheet, we think the risk/reward on this name is clearly not what it was. Bottom line - given the tenuous macro environment, we believe AMGN offers unique operational strength and safety for large-cap investors. But at some point, one must wonder how much higher this name can work." (Raises Q2 EPS of $1.54)

For an analyst ratings summary and ratings history on Amgen click here. For more ratings news on Amgen click here.

Shares of Amgen closed at $76.96 yesterday.

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