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Gilead Sciences' (GILD) Price Target Bumped to $135 at Deutsche Bank

July 29, 2015 10:13 AM EDT
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Price: $73.46 +0.62%

Rating Summary:
    24 Buy, 16 Hold, 2 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 13 | Down: 10 | New: 11
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Deutsche Bank maintained a Buy rating on Gilead Sciences (NASDAQ: GILD) and raised its price target to $135.00 (from $125.00). Analyst Robyn Karnauskas characterized Q2 results as "solid" and said HCV discounts don't look bad.

"We are lowering our US HCV revenues while increasing OUS numbers & model WW revs at $18.5B vs. $18B previously. We are also increasing 2016 HCV sales to $16.9B vs. $15.2B prev. as the discount for HCV franchise appear lower than previous (~36% . in 2Q). Better discount profile coupled with OUS strength makes us feel positively about the company and we are raising our TP to $135/sh vs. $125/sh previous," said Karnauskas.

"On questions on M&A, the co noted that they could contemplate small as well as large deals given their financial strength. However, they noted that they would be selective in what they would like to do and take their time to make sure they make correct decision. On immune-oncology, the co noted that they are going to be active in the space & will be onto opportunities that can benefit their portfolio. Given that immune-oncology has gotten crowded, the co noted that they are broadening their criteria & looking at wide range of things," added the analyst.

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 $113.07 yesterday.



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