Amgen (AMGN) PT Raised to $195 at Barclays

Barclays raised its price target on Amgen (NASDAQ: AMGN) to $195.00 (from $180.00) while maintaining a Equalweight rating following the company's 2Q earnings report.

Amgen’s portfolio looks poised to deliver flat growth in 2018e, which, in Barclays view, will likely keep shares in a holding pattern in the near term. For the year, Barclays forecasts top-line decline of -1.6% and -3.1% in 2019. On the bottom line, the company is expected to accelerate growth through its low tax rate and additional share repurchase programs.

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