Maxim analyst Michael Okunewitch upgraded Gilead to Buy from Hold with a $165 price target. The company's growth in the base business is expected to reach 5%-6%, exceeding the prior expectation of 4%-5%, and factoring in the growth potential of Yeztugo in PREP, Trodelvy in first-line breast cancer, as well as continued dominance in HIV treatment, Maxim believes that a premium to peers is justified, the analyst tells investors in a research note. The firm adds, however, that with the stock's pullback from all-time highs, its P/E multiple of 15.1-times expected 2026 EPS is now just in line with Gilead's biopharma peers.
