Amgen Price Target Hiked by Wells Fargo to $435

Wells Fargo analysts have raised their price target for Amgen to $435 from $400, according to TipRanks.

The decision is based on backtested results, which are not an indicator of future actual results. The performance is calculated by the retroactive application of a model constructed on the basis of historical data and assumes certain market conditions.

Backtested performance has inherent limitations, as it does not reflect actual trading or the effect of material economic and market factors on the decision-making process. Additionally, backtesting allows the security selection methodology to be adjusted until past returns are maximized, which may not reflect actual results.