HSBC Upgrades Gilead Sciences (GILD) to Buy

HSBC analyst Rajesh Kumar upgraded Gilead Sciences (NASDAQ: GILD) from Hold to Buy with a price target of $155.00 (from $133.00).

The analyst comments: “The market is too pessimistic on the HIV market post-dolutegravir generics, in our view. We believe the long-acting HIV therapies will improve adherence and help offset declines, supporting better-than-consensus HIV forecasts. Furthermore, short-term upside could come from high-growth PrEP (Yeztugo) and oncology catalysts (anito-cel, Trodelvy), with the recent share price correction and 13x next year earnings making valuation attractive.”

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 $131.27 yesterday.

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