Amgen initiated with "buy"

28.07.08 - Morgan Joseph & Co

NEW YORK, July 28 (newratings.com) - Analysts at Morgan Joseph initiate coverage of Amgen Inc (AMGN) with a "buy" rating. The target price is set to $77.

In a research note published this morning, the analysts mention that the company has a strong product pipeline and is all set to deliver a range of blockbuster drugs going forward. Amgen expects to report positive results from its FREEDOM trial. The analysts expect the trial results to bolster the company?s growth prospects.