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BofA upgrades ‘oversold’ Gilead Sciences (NASDAQ: GILD) to Buy
Summary
Broker Bank of America upgraded its rating on pharmaceutical firm Gilead Sciences (NASDAQ: GILD). BofA upped the rating on GILD from ‘neutral’ to ‘buy’ leading to the stock’s price rising by 3.3% on September 8, 2023.
The broker also upped its price target on GILD to US$95 from US$88 as it sees inherent potential in the company’s financial performance.
As per Refinitiv data, Gilead’s average recommendation rating on a scale of one to five is 2.5. Here, one depicts a ‘strong buy’ rating, while five stands for a ‘strong sell' rating. Meanwhile, GILD has an overall mean price target of US$90.84, which is an upside potential of 19.53% over GILD’s closing price on Friday.
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