UPDATE: Citi Downgrades Gilead Sciences (GILD) to Neutral

(updated to add analyst comment)

Citi analyst Robyn Karnauskas downgraded Gilead Sciences (NASDAQ: GILD) from Buy to Neutral with a price target of $75.00 (from $100.00).

The analyst steps to the sidelines after admitting error on an expectation for NASH to work. She says without NASH the company will now need to rely on M&A to grow.

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 $67.62 yesterday.

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