Gilead price target raised to $90 from $84 at RBC Capital

RBC Capital analyst Brian Abrahams raised the firm’s price target on Gilead (GILD) to $90 from $84 and keeps a Sector Perform rating on the shares after its Q4 results and guidance. The company’s FY25 is shaping up to be a more transitional year, with flattish revenue and earnings, but exiting FY24 with core franchise strength and with near-term headwinds likely to be transient, there is likely to be more concrete visibility towards medium-term growth, the analyst tells investors in a research note. RBC adds however that the Street already has high PrEP growth, HIV market conversion, and anito-cel uptake expectations.