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Fly News Breaks for February 6, 2020
Feb 6, 2020 | 07:40 EDT
Argus analyst David Toung is keeping his Buy rating and $265 price target on Amgen after its stronger than expected Q4 results, with a positive view on its recently launched drugs, label expansions, and growth in overseas markets. The analyst adds that at a 13-times his expected 2021 earnings, the valuation on the stock is attractive relative to the 15.4-times mean for his coverage universe of biotech/pharma companies.