Citi Reiterates Buy, $49 PT on Gilead

In a note out today, Citigroup reiterated a buy rating and $49 price target on Gilead Sciences (Nasdaq: GILD) while noting “Gilead is slated to post an 22% EPS CAGR from 2012-'15 due to its premier HIV franchise and hepC sales. This puts Gilead to be one of the most attractive growth assets in large cap biotech.”

Citi also said Gilead's Quad drug and HIV franchise will boost the company's growth prospects going forward, but “the acquisition of Pharmasset (Nasdaq: VRUS) will distinctly propel the company to potentially dominate the hepC landscape.”