Credit Suisse analyst Trung Huynh lowered the firm’s price target on Amgen to $200 from $220 and keeps an Outperform rating on the shares heading into the Q2 results. The firm is seeing more rapid outflow out of Pharma as optimism in the market improves, and sees the trend of normalizing valuations continuing for the sector in 2H23, the analyst tells investors in a research note.
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