Amgen "outperform"

28.08.07 - Cowen & Co

NEW YORK, August 28 (newratings.com) - Analyst Eric Schmidt of Cowen & Co maintains his "outperform" rating on Amgen Inc (AMGN).

In a research note published this morning, the analyst mentions that the company is focusing on cutting back its infrastructure in order to lend support to its margins, earnings and cash flows. While Amgen is optimistic about a potential change in CMS? reimbursement policy, there is uncertainty regarding the timing of any CMS policy change, the analyst says. ESA sales should eventually stabilize, boosting the company?s earnings visibility, Cowen & Co adds.