Morgan Stanley Upgrades Gilead Sciences, Says It Will Maintain 75% Market Share
Morgan Stanley upgraded Gilead Sciences, Inc. (NASDAQ: GILD) from Equal-weight to Overweight on Monday and raised its price target from $100 to $104.
Analyst Matthew Harrison felt that price fears were exaggerated. Analysts at Bank of America and Deutsche Bank predicted a possible price war following the decision of Express Scripts to chose AbbVie Inc (NYSE: ABBV) as its exclusive supplier of hepatitis C treatments.
Harrison saw an improved risk-to-reward ratio now that shares have declined and felt the company can maintain a 75 percent market share even with the AbbVie price discounts.
Gilead Sciences recently traded at $97.14, up 3.57 percent.
Latest Ratings for GILD
| Date | Firm | Action | From | To |
|---|---|---|---|---|
| Mar 2022 | Barclays | Maintains | Underweight | |
| Mar 2022 | RBC Capital | Maintains | Outperform | |
| Feb 2022 | BMO Capital | Downgrades | Outperform | Market Perform |
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Posted-In: Bank of America Deutsche Bank Express Scripts Inc. Matthew HarrisonAnalyst Color Upgrades Price Target Analyst Ratings
