Standpoint Research Downgrades Gilead Sciences (GILD) to Hold

Standpoint Research downgraded Gilead Sciences (NASDAQ: GILD) from Buy to Hold.

The firm comments, "GILD is + 18% for us and + 650 bps versus the S&P-500 since our recommendation on July 13, 2010. We can no longer leave our highest rating attached to this name. GILD shares have outperformed the S&P by more than 1500 bps since late April and we recommend locking this in. If the market goes down, we could end up giving up the absolute gains, or if the market goes higher, this low-beta name will likely under-perform and be a drag on performance relative to the S&P.

For more ratings news on Gilead Sciences click here and for the rating history of Gilead Sciences click here.

Shares of Gilead Sciences closed at $40.76 yesterday.

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