Mizuho Securities Starts Gilead Sciences (GILD) at Buy, $88 PT

November 7, 2016 4:44 PM EST
Get Alerts GILD Hot Sheet
Price: $73.07 --0%

Rating Summary:
    24 Buy, 11 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 0 | Down: 0 | New: 0
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Mizuho Securities initiates coverage on Gilead Sciences (NASDAQ: GILD) with a Buy rating and a price target of $88.00.

Analyst Salim Syed commented, "GILD is our out-of-consensus call among the big 4 biotech … while GILD is no longer a favorite among biotech investors and has lost much of its fan club, we like the stock on valuation."

He noted:

  • While we acknowledge concerns around the HCV base business (and HIV base business) and in fact agree on many levels, we think this stock is undervalued in the market.
  • To be clear, we are not saying this is a table-pounding buy (yet) … there are risks to owning this stock and near-term it’s possible the stock continues to trade lower (from current levels) … but we believe over time the company will execute and patient investors would benefit

He also notes that GILD is trading ~16% below its 200-day moving average and ~40% below its 2-year and all-time high.

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

Shares of Gilead Sciences closed at $72.43 yesterday.

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