Amgen initiated with "buy" - update

20.06.08 - Deutsche Securities

NEW YORK, June 20 (newratings.com) - Analysts at Deutsche Bank Securities initiate coverage of Amgen Inc (AMGN) with a "buy" rating. The target price is set to $52.

In a research note published yesterday, the analysts mention that Amgen?s stock warrants a premium valuation relative to the US pharma sector, in view of the company?s improved growth profile and reduced generic risk. The company?s strategic value is above its value on a stand-alone basis, the analysts add.