UPDATE: Bank of America Increased Gilead Sciences PT

On Friday, Bank of America Merrill Lynch analyst Rachel McMinn increased the price objective for

from $96 to $107. McMinn expects an increase in share price, "as investors gain visibility on HCV pricing in late 2013, obtain Phase 3 data in early 2014, observe the first wave of GILD's HCV launch in 2014, and get increased confidence in HIV sales durability." The analyst looked at key US< EU, and Japan HCV assumptions. Bank of America's peak US sales estimate is $6.5 billion in 20116 and $1.5 billion in 2017 in Europe. For ROW, McMinn assumes peak sales of $1.9 billion in 2023 and noted no sales prior to 2017. Gilead Sciences closed at $71.63 on Thursday and is currently trading +3.70%. Gilead hit a new high earlier this morning at $75.21.