Raymond James Reiterates an 'Outperform' on Amgen (AMGN); DaVita Contract Revelation Indicates Near-Term Upside on EPO Pricing

Raymond James reiterates an 'Outperform' on Amgen (NASDAQ: AMGN) price target of $67.00.

Raymond analyst says, "Incrementally positive after DaVita (NYSE: DVA) provided additional pricing details on its new 7-year EPO contract with AMGN. We are surprised to learn this contract - at least initially - provides for fewer rebates than previous terms. While we believe rebates will grow towards the tail end of the deal - as competitive options potentially increase - we see this news as providing new near-term upside...We continue to recommend purchase into the mid-$60s."

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

Shares of Amgen closed at $55.57 yesterday.

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