UBS has revised its price target for Amgen Inc. (AMGN) shares to $430 from $440, while maintaining a Buy rating on the stock.
The firm's valuation multiple was reduced to approximately 17 times from 18 times previously, applied to its 2027 earnings per share estimate of $24.91.
The current stock price is $376.35 with a P/E ratio of 23.36, according to InvestingPro analysis, Amgen appears undervalued at current levels.
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