Amgen on hold by Jefferies

Jefferies & Co., Inc. analyst Adam Walsh rated Amgen, Inc. at hold after the company reported solid third-quarter earnings per share of $1.04, beating the analyst's and Street consensus by 5 cents and 6 cents, respectively. With low Aranesp, Neulasta and Neupogen inventories exiting the third quarter, Walsh expects fourth-quarter 2006 earnings per share to be strong. Jefferies raised its price target to $76 from $73. Shares of the Thousand Oaks, Calif.-based biotechnology company were up $1.57, or 2.14%, at $74.94. (Nasdaq: AMGN)

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