Bank of America Securities analyst Tim Anderson has reiterated their bullish stance on GILD stock, giving a Buy rating on January 30.
Tim Anderson gave his rating based on several factors, highlighting Gilead Sciences’ strong growth prospects and reasonable pricing. The company is expected to show a modest increase in revenue and earnings per share for the upcoming quarter, largely due to the performance of its HIV products. Despite slight reductions expected in the later 2020s due to increased operating expenses and varying sales across different product categories, the potential growth of its key product, Biktarvy, remains promising.
Additionally, Anderson points out the company’s long-term durability, with no significant patent expiries until the early 2030s, which is a favorable factor for investors. Gilead’s valuation is considered attractive as it aligns with the industry average, presenting a good opportunity for investment. This combination of durable growth and competitive pricing leads to the reiteration of a Buy rating with a price objective of $109.
Anderson covers the Healthcare sector, focusing on stocks such as Eli Lilly & Co, Johnson & Johnson, and Pfizer. According to TipRanks, Anderson has an average return of 9.1% and a 72.88% success rate on recommended stocks.
In another report released on January 30, Bernstein also assigned a Buy rating to the stock with a $105.00 price target.