Analysts continue to bless the shares and offer tempting price targets. In November, Goldman Sachs said shares were worth $130, citing higher sales of Kyprolis. Deutsche Bank thinks Amgen shares are worth $138. The bank believes the buyout of Onyx will add 20% to earnings per share annually beginning in 2016.
While I ended up being right that Onyx would get acquired, I think the acquirer, Amgen, is just as good of a pick for 2014.
At the time of publication, the author had no position in any of the stocks mentioned.
This article represents the opinion of a contributor and not necessarily that of The Street or its editorial staff.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts