Citi lowered the firm’s price target on Amgen (AMGN) to $295 from $310 and keeps a Neutral rating on the shares. Ahead of the Q4 earnings, the firm updated models for its biotechnology and pharmaceuticals coverage. Higher-growth names like Eli Lilly (LLY) and Vertex VRTX) remain Citi’s favorites in the group, given their “strong demand” in key franchises and a lower impact from potential policy changes. The sector “looks tricky” in 2025 given negative sentiment, but growth expectations appear beatable with a focus on commercial execution, the analyst tells investors in a research note.
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