Amgen Upgraded to “Buy” at UBS; Clinical Data Looking Up? (AMGN)

Biotechnology giant Amgen, Inc. (AGMN) on Monday received a big upgrade from analysts at UBS.

The firm boosted its rating on AMGN from “Neutral” to “Buy” with a $96 price target. That new target suggests a 14% upside to the stock’s Friday closing price of $83.96.

UBS noted it expects to sees some better near-term clinical data from the company, hence the more bullish view.

Amgen shares were mostly flat in premarket trading Monday.

The Bottom Line
Shares of Amgen (AMGN) have a 1.72% dividend yield, based on Friday’s closing stock price of $83.96. The stock has technical support in the $76-$80 price area. The shares are trading at all-time highs.

Amgen, Inc. (AGMN) is not recommended at this time, holding a DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

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