Bernstein initiates coverage of Eli Lilly and Co (LLY.US), Gilead Sciences (GILD.US), and Amgen (AMGN.US), all with an 'outperforming the large cap' rating.
According to the Intelligent Finance and Economics APP, Bernstein initiates coverage of Eli Lilly and Co (LLY.US), Gilead Sciences (GILD.US), and Amgen (AMGN.US), all with an 'outperforming the large cap' rating.
The investment firm stated that the positive ratings for Gilead and Amgen are based on optimistic expectations for key assets to generate revenue growth from now until 2030, including Gilead's HIV PreEP treatment lenacapavir, Amgen's weight loss drug MariTide, and rare disease portfolio.
Bernstein also mentioned that they expect 'increasing optimism towards Gilead's diversified global strategy in the coming year'.
As for Eli Lilly, Bernstein stated that the rating 'depends on how it utilizes the cash generated from weight loss drugs'. Bernstein believes that Eli Lilly is ready to 'leverage a diversified investment portfolio, achieve growth through weight loss drugs, and overcome traditional restructuring cycles'.
Bernstein also initiates coverage of Merck (MRK.US), AbbVie (ABBV.US), Bristol-Myers Squibb (BMY.US), Moderna (MRNA.US), and Pfizer (PFE.US), all with a 'neutral to the large cap' rating.