Piper Sandler Lifts PT on Amgen (AMGN) to $342 From $328, Keeps an Overweight Rating

Amgen Inc. (NASDAQ:AMGN) is one of the top most undervalued low volatility stocks to buy now. On August 25, Piper Sandler raised the firm’s price target on Amgen Inc. (NASDAQ:AMGN) to $342 from $328 while keeping an Overweight rating on the shares.

Dogs of the Dow: Why Amgen’s (AMGN) Dividend Power Makes it a Standout Pick

The rating update came after the company’s quarterly results, with the firm stating that Amgen Inc. (NASDAQ:AMGN) is well-positioned to go beyond its loss of exclusivity for denosumab, supported by continued strong execution across its commercial portfolio.

The firm added that Amgen Inc. (NASDAQ:AMGN) is experiencing continued pipeline advancement, which shows a strong case for multiple expansion from an EV/2026E EBITDA of around 13-times.

Amgen Inc. (NASDAQ:AMGN) is a biotechnology company that discovers, develops, manufactures, and markets human therapeutics. It delivers new therapies for patients with complex cancers, especially in areas with significant unmet needs.

While we acknowledge the potential of AMGN to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than AMGN and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.