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RBC reiterates Gilead at outperform
Gilead Sciences Inc. was reiterated by RBC Capital Markets analyst Jason Kantor at outperform, average risk, and an increased price target of $78 from $73. RBC raised its third-quarter earnings per share estimate to $0.56 from $0.54 based on better-than-expected performance of Atripla and Truvada. IMS script data support the view that Atripla is accelerating the growth of the combined Atripla/Truvada franchise, according to the analyst. Kantor raised 2007 GAAP earnings per share estimates to $2.68 from $2.46 on strength of the core HIV franchise. Shares of the Foster City, Calif.-based biopharmaceutical company were up 55 cents, or 0.82%, at $67.33. (Nasdaq: GILD)
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