Fly on WallStreet

Last night, Cramer kicked a down dog-- trashing NTRI. Frankly, there was nothing value add to his comments and they wreaked of pile-on-itis. By the way, only dicktards have pile-on-itus. I'd rather believe Citigroups analysis.

CIBC upgrades Gilead Sciences (GILD 64.32) to Outperform from Sector Perform with an $82 tgt following earnings and based on their substantially increased near-term and out-year top-line and EPS growth ests. The firm notes the qtr was strong and they see follow-through in 2007 and beyond.

JMP Securities upgrades Gilead Sciences (GILD 64.32) to Outperform from Market Perform and maintains $88 tgt, following a strong Q406 coupled with encouraging 2007 guidance

Gilead Sciences tgt raised to $82 at Montgomery; HIV growth trumps Myogen dilution (64.32 ) : Montgomery notes GILD reported Q06 EPS of $0.83, vs their est of $0.70 (excluding options expensing). Revs of $899 mln exceeded firm's est of $814 mln primarily because of higher than expected Atripla revs. In firm's view, the key negative in GILD's guidance is that Y07 R&D expenses are expected to increase considerably owing primarily to Gilead's acquisition of Myogen. What was being regarded as a year marred by dilution and anemic 8% growth per consensus expectations appears to firm to be a year with rev growth exceeding 30% and EPS growth of about 16%. Firm is raising their DCF-based price target from $74 to $82 based on strong HIV sales growth and lower tax rates going forward for GILD. Firm raises their 2010 HIV sales projection from $3.5-$3.8 bln. Since the $2.5 bln acquisition of Myogen was announced in Oct 2006, GILD has lost approx $2.5 bln in market cap because investors have viewed the acquisition as dilutive. Firm believes there are two flaws in this logic: 1) investors are overlooking the strength of GILD's HIV franchise; and 2) they believe it is too early to pronounce that the Myogen deal will be dilutive in the long term.

Gilead Sciences tgt upped to $80 at Stifel following earnings (64.32 ) -Update : Stifel raises their GILD tgt to $80 from $74 following Q4 earnings that came in above their and consensus estimates. Firm says the discrepancy is due primarily to higher than estimated revenues from sales of Truvada, Atripla, and royalties. The believe unrealized strength lies in Gilead's pulmonary franchise, and anticipate approval and marketing for Ambrisentan in 4Q07.