Scotiabank Raises Amgen Price Target to $450.00 Amid Bullish Sentiment

Amgen (NASDAQ:AMGN) has had its price target raised by Scotiabank from $385.00 to $450.00 in a research report issued on Wednesday, according to Benzinga.

The brokerage firm maintains a 'sector outperform' rating on Amgen's stock and suggests a potential upside of 10.80% from the company's previous close.

Scotiabank is not alone in its bullish stance on Amgen; several other firms have raised their price targets or reaffirmed their 'buy' ratings in recent weeks, including BMO Capital Markets and Oppenheimer.

However, some analysts remain cautious due to ongoing risk factors such as regulatory scrutiny related to Tavneos and a patient-data breach.