By: Benzinga
UPDATE: Piper Jaffray Downgrades Amgen to Neutral on Valuation
In a report published Wednesday, Piper Jaffray analyst M. Ian Somaiya downgraded the rating on Amgen (NASDAQ: AMGN ) from Overweight to Neutral, but reiterated the $107.00 price target. In the report, Somaiya noted, “Additionally, 1Q13 revenues fell short of our and Street estimates, with management maintaining 2013 revenue and
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