Amgen Inc. (AMGN) Message Board

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Biotech / Medical : Amgen Inc. (AMGN)

AMGN 334.16

-1.0%

Nov 24 3:59 PM EST

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To: Jacob Snyder who wrote (440)	1/17/1998 10:46:00 PM
From: Jacob Snyder	Read Replies (1) of 1906

Briefing.com core holding:Amgen (AMGN): Stock took a beating this summer when company announced a slowdown in earnings. AMGN fell from a high of 69 3/8 to below 50. In essence, the company went from a "high flyer" to a "plodder" overnight. Now, with sales of its keys product Epogen expected to increase only 8% to 10% the next couple of years instead of previous 15%, earnings will rise at a slower rate. However, at 50 11/16 on the day we posted AMGN as a Core candidate, the stock was at a reasonable 12-month trailing PE of 19.3. The company has a rock solid balance sheet, and earnings should still grow a decent 10% to 12% the next couple of years. Its two main products: Epogen and Neupogen, still have good prospects, and its new product Infergen could boost earnings. This stock won't necessarily take off, but it is a solid company with good growth prospects and a stock price that makes an investment appealing. With 10% earnings growth and a slight multiple expansion to 20 or 21, AMGN could hit 59 to 62 in a year.

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