Morgan Stanley upgraded Gilead (GILD) to Overweight from Equal Weight with a price target of $113, up from $87. The firm sees the potential for upward estimate revisions on lenacapavir forpre-exposure prophylaxis and further multiple expansion as the company makes progress with its next-gen HIV treatment strategy. The firm expects upward estimate revisions and further multiple expansion for Gilead. It sees “several key catalysts” for shares this year.
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