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Fly News Breaks for March 5, 2020
Mar 5, 2020 | 06:16 EDT
BofA analyst Geoff Meacham upgraded Amgen to Buy from Neutral with a price target of $250, up from $245. The analyst contends that the company's 2020 guidance is beatable and its legacy product risk is "well appreciated". The analyst also cites Amgen's positive risk-reward given its year-to-date underperformance and its emerging product pipeline that includes "Otezla/Aimovig/Evenity + biosimilars with AMG 510 and tezepelumab to come".
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