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Amgen hits buy zone.
godawgst
Member, Swaye's Wigwam Posts: 2,523 
Down 7% today to $236. Quarterly report was not great, but explainable.
Stock is notorious for falling after earnings no matter if good/bad and then climbing back to or above level it was at before they announced.
As a trade, I would initiate position before close tomorrow. Target price sometime in next 8 months is $260. Add in 2.25% dividend over that time frame and overall return is 11% plus/minus.
Current PE sits at 14.5. If industry average gets to 17-18 Amgen is a 280 stock if you want to play it as a investment.
Stock is notorious for falling after earnings no matter if good/bad and then climbing back to or above level it was at before they announced.
As a trade, I would initiate position before close tomorrow. Target price sometime in next 8 months is $260. Add in 2.25% dividend over that time frame and overall return is 11% plus/minus.
Current PE sits at 14.5. If industry average gets to 17-18 Amgen is a 280 stock if you want to play it as a investment.
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