Amgen Inc. (AMGN) Message Board

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Biotech / Medical : Amgen Inc. (AMGN)

AMGN 346.11

+2.3%

3:10 PM EST

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To: D.J.Smyth who wrote (566)	6/24/1998 11:30:00 AM
From: Exacctnt	Read Replies (2) of 1906

Darrell, Analyst upgrade!! RESEARCH ALERT-Amgen raised to strong buy NEW YORK, June 24 (Reuters) - Gruntal & Co. said Wednesday it has raised its rating on shares of Amgen Inc. to a strong buy from a buy. -- Analyst David Saks said upgrade due to positive surprise changes that have raised the government reimbursement policy for Amgen's biggest drug, Epogen, which stimulates and regulates the production of red blood cells. -- Epogen currently generates annual revenues of $1.1 billion, and should generate a higher income stream. -- Gruntal sets new share target price of $82, up from $69. Shares are ''seriously undervalued.'' -- Raises 1999 EPS forecast by 15 percent to $3.45. 1998 EPS maintained at $3.00. ---------------------------------------------------------------------- Nice price target. Regards, Bob

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