Amgen initiated with "outperform"

11.08.09 - RBC Capital Markets

NEW YORK, August 11 (newratings.com) - Analysts at RBC Capital Markets initiate coverage of Amgen Inc (AMGN) with an "outperform" rating. The target price is set to $72.

In a research note published this morning, the analysts mention that the company has been able to turn around its operations successfully. Amgen?s share price is expected to appreciate going forward, in the wake of the expected re-acceleration in the company?s revenue and earnings growth and the expected positive flow of data, the analysts add.