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Merrill maintains Amgen at neutral
Merrill Lynch analyst Eric Ende maintained Amgen, Inc. at neutral after the company raised its 2006 earnings-per-share guidance by $0.15. Revenue guidance remained unchanged. Factors affecting the stock for the next 12 to 18 months include the CERA patent case, Johnson & Johnson anti-trust lawsuit and potential competition to the EPO franchise. Merrill raised its 2006 earnings-per-share estimate to $3.65 from $3.50, and increased 2007 earnings per share to $4.06 from $3.82 including option expenses. Shares of the Thousand Oaks, Calif.-based biotechnology company were up $2.23, or 3.49%, at $66.15 on volume of 21,139,527 shares versus the three-month running average of 8,641,800 shares. (Nasdaq: AMGN)
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