Truist Raises Amgen Price Target to $340
Truist raised its price target on Amgen (AMGN) to $340 from $327 as part of a Q2 earnings preview for biotech. The firm expects a rebound from a seasonally soft period.
Key Numbers
Truist Securities raised its price target on Amgen Inc. (NASDAQ: AMGN) to $340 from $327 on July 7, 2026, as part of a broader Q2 earnings preview for the biotech sector. The adjustment reflects expectations of a rebound from a traditionally softer period.
Adjustment Details
| Item | Value |
|---|---|
| Previous Target | $327 |
| New Target | $340 |
| Change | +$13 (+4%) |
| Analyst | Truist Securities |
| Date | July 7, 2026 |
Analyst Rationale
Truist expects Amgen to rebound in Q2 after a seasonally weak period. No further details on specific drivers were provided, but the upgrade signals confidence in the company's near-term prospects.
Context
This revision is part of Insider Monkey's list of "15 Best NASDAQ 100 Stocks to Buy Other Than SpaceX." Truist's latest adjustment reflects a positive outlook, though other analysts may hold differing views.
What It Means for Investors
The price target increase suggests positive expectations for Amgen's Q2 performance, but it is not a buy or sell recommendation. Investors should monitor actual earnings reports and conduct their own analysis.
Frequently Asked Questions
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