Citi Upgrades Gilead Sciences (GILD) to Buy, Raises Target to $49

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Amid an 11 percent decline in shares of Gilead Sciences (NASDAQ: GILD) Monday on the heels of news the company will acquire Pharmasset (Nasdaq: VRUS) for an 89 percent premium, Citi's Yarn Werber has upgraded the stock.

Werber now rates Gilead shares a Buy, up from Neutral previously. The firm's new price target is $49, up from $45 previously.

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

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