Citi Raises Price Target, Estimates on Amgen (AMGN)

Citigroup analysts boosted the price target and earnings estimates on biotechnology firm Amgen, Inc. (AMGN) on Friday, saying that the company is too overlooked.

The analysts raised estimates on AMGN through 2014 and now see shares reaching $133. This target suggests a 24% upside to Thursday’s closing price of $107.46.

Amgen shares were up $1.45, or +1.33%, during Friday morning trading. The stock is up +26.4% year-to-date.

The Bottom Line
Shares of Amgen (AMGN) have a dividend yield of 1.73% based on Friday’s intraday trading price of $108.91 and the company’s annualized dividend payout of $1.88 per share.

Amgen, Inc. (AMGN) 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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