UBS Raises PT on Amgen Inc. (AMGN) to $326 From $315, Keeps a Neutral Rating

Amgen Inc. (NASDAQ:AMGN) is one of the most undervalued blue chip stocks to buy according to hedge funds. On July 21, UBS analyst Trung Huynh raised the firm’s price target on Amgen Inc. (NASDAQ:AMGN) to $326 from $315 while keeping a Neutral rating on the shares.

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

A pharmacist filling a prescription for a complex drug developed by the company.

The firm told investors in a research note that it expects Amgen Inc. (NASDAQ:AMGN) to deliver a small beat in its Q2 results after two consecutive solid quarterly beats. However, it also continues to believe that the rare disease products may be bumpy.

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.