Amgen "outperform," estimates raised

25.04.07 - Cowen & Co

NEW YORK, April 25 (newratings.com) - Analyst Eric Schmidt of Cowen & Co maintains his "outperform" rating on Amgen Inc (AMGN), while raising his estimates for the company.

In a research note published yesterday, the analyst mentions that the company has posted mixed 1Q results, with non-GAAP EPS in-line with and revenues short of the consensus. Although Amgen withdrew its revenue guidance for 2007, the company affirmed the low-end of its EPS guidance. The EPS estimates for 2007 and 2008 have been raised from $4.05 to $4.15 and from $4.35 to $4.45, respectively, to reflect lower expenses.