Jefferies Remains Sidelined on Gilead Sciences (GILD) Following 2Q - PT to $93
Get Alerts GILD Hot Sheet
Rating Summary:
24 Buy, 16 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 15 | Down: 10 | New: 13
Join SI Premium – FREE
Jefferies maintained a Hold rating on Gilead Sciences (NASDAQ: GILD), and cut the price target to $93.00 (from $97.00) following the company's 2Q earnings report. GILD's strong bottom-line results were driven by HIVB strength, as well as buybacks. HIV sales remain strong, with particular strength in Genvoya and some pickup of share from non-GILD regimens through switching.
Analyst Brian Abrahams commented, "Bottom-line beat driven by HIV strength and share buybacks, and though bigger story for the quarter is persistent HCV headwinds and lowered FY sales guidance, this should at least help re-calibrate expectations and at the current multiple, LT declines are likely baked in. We continue to look for greater visibility on potential growth drivers, internal or external, to get more constructive on shares. Adjust tgt to $93 on model updates."
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 $88.55 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Faraday Technology Corp (3035:TT) PT Lowered to NT$378 at Jefferies
- Lundin Gold Inc. (LUG:CN) (FTMNF) PT Raised to Cdn$23.25 at Canaccord Genuity
- Roth/MKM Upgrades Albertsons Companies Inc. (ACI) to Buy, 'Fundamental Floor and Improved Deal Likelihood'
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT ChangeRelated Entities
Jefferies & Co, EarningsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!