Truist lifts Gilead PT on expectations of in-line Q1 results

Truist Securities raises PT on drugmaker Gilead Sciences GILD.O to $155 from $152, maintains rating at "buy"

New PT represents an 11.7% upside to the stock's last close

Truist expects Q1 results to be broadly in line with Wall Street estimates

Expects revenue of $6.94 bln vs analysts' consensus $6.91 bln and non-GAAP EPS of $1.84 vs consensus of $1.90

Estimates Q1 HIV drug Biktarvy sales of $3.30 bln vs Street expectations of $3.34 bln; sees PrEP drug Yeztugo sales of $167 mln vs expectations of $151 mln

Expects Q1 commentary on Yeztugo launch strategy and payer access in the U.S. and EU

To watch out for updates on blood cancer therapy anito-cel launch preparations ahead of December 23 PDUFA date

Anticipates discussion on recent M&A activity, including Ouro and Tubulis, and other near-term growth drivers such as Livdelzi amid evolving liver-disease competition

26 of 33 brokerages rate the stock "buy" or higher, 7 "hold"; their median PT is $160.5, according to data compiled by LSEG

Up to last close, stock up 13.1% YTD