Why Amgen Stock Was a Nearly 5% Winner Today

On Tuesday, Amgen (NASDAQ: AMGN) stock hit its one-year high, on continued momentum from a far better-than-expected quarterly earnings report. The immediate catalyst was a post-earnings price target raise from an analyst, which helped the stock secure an almost 5% price gain that day; it closed a mere $0.10 down from that one-year peak.Before market open, Deutsche Bank's James Shin pulled the lever on that hike. The pundit now believes the stock is worth $285 per share, up a tick from his previous fair-value estimation of $280. This move didn't change his recommendation on the stock, as it remains a hold. Image source: Getty Images.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool