Mizuho Securities Starts Gilead Sciences (GILD) at Buy, $88 PT
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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."
- 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.
Shares of Gilead Sciences closed at $72.43 yesterday.
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