Amgen (AMGN) PT Raised to $235 at Mizuho

Mizuho analyst Salim Syed raised the price target on Amgen (NASDAQ: AMGN) to $235.00 (from $223.00) while maintaining a rating.

The analyst commented: "Despite management's recent positive comments on its Ph2 obesity asset MariTide (AMG133) and the following stock rise, we believe that many questions remain unanswered on the asset. Valuation stills the key issue with the stock, in our view; while our DCF is sub-$200 (inclusive of some obesity), to explain the current trading levels, investors appear to be relying on P/E based valuation methodologies."

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