Citi Maintains a 'Buy' on Gilead Sciences (GILD), Saying Stock is Oversold
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Citi maintains a 'Buy' on Gilead Sciences Inc (Nasdaq: GILD), saying stock is oversold. Price target moved from $60 to $59.
Citi analyst says, "Our analysis suggests that Gilead will post upside to 3Q sales and EPS estimates driven by solid HIV sales. Our analysis suggests that domestic trends are more robust than expected, suggesting that the -21% selloff from Aug. 12th due to concerns about weak Q3 results are unfounded. We project modest sales of $442M (+5.6% Q/Q) translating in +40bp market share gains Q/Q. This is conservative since Atripla is still very early in its steep launch into the lucrative European markets."
Gilead Sciences, Inc. (Gilead) is a biopharmaceutical company that discovers, develops and commercializes therapeutics in areas of unmet medical need.
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