Key Points Morgan Stanley upgraded Amgen with a new price target of $279, an increase of 20.18%. Tuesday’s gap-up followed a Morgan Stanley upgrade to the stock. In a note, Morgan Stanley analysts cited AMG133, an anti-obesity treatment that Amgen mentioned in February of this year in a press release highlighting its growth strategy through 2030. In the Morgan Stanley note, analysts said there is potential for a “longer duration” of results with Amgen’s product. While Amgen currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.

Source: Forbes October 13, 2022 18:10 UTC