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Explain this story: Scotiabank maintains Sector Outperform rating on Amgen, $500 price target
Scotiabank has maintained its Sector Outperform rating for Amgen with a $500 price target, suggesting a 19.6% upside from its previous close. This positive outlook is attributed to Amgen's strong product portfolio, strategic acquisitions like Horizon and Onyx Pharmaceuticals, and a commitment to innovation reflected in expected high-single-digit year-over-year growth in non-GAAP R&D expenditures.
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Scotiabank has maintained its Sector Outperform rating for Amgen with a $500 price target, suggesting a 19.6% upside from its previous close. This positive outlook is attributed to Amgen's strong product portfolio, strategic acquisitions like Horizon and Onyx Pharmaceuticals, and a commitment to innovation reflected in expected high-single-digit year-over-year growth in non-GAAP R&D expenditures.
Article tone: Positive This describes the words the journalist used. It is not a prediction, and not advice.
Published Sep 29, 2026, 10:57 ET · on this site +1h 51m