Argus cautious on Gilead citing ongoing pressure on sales and margins

Argus analyst David Toung said he remains cautious on Gilead given the ongoing pressure in sales and margins. He notes the shares have fallen 16.7% on a total return basis over the last year, and 5.1% year-to-date, underperforming the market in both periods. The analyst expects revenue to remain weak, especially in hepatitis-C products and older HIV products, as their declines have more than offset contributions from new products. Toung maintains his Hold rating on Gilead shares.

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