Gilead (GILD) Upgraded to Buy: Here's Why

Core Viewpoint - Gilead Sciences (GILD) has received an upgrade to a Zacks Rank 2 (Buy), indicating a positive trend in earnings estimates which is a significant factor influencing stock prices [1][3]. Earnings Estimates and Stock Performance - The Zacks rating system reflects changes in earnings estimates, which are strongly correlated with near-term stock price movements [4][6]. - Gilead's earnings estimate for the fiscal year ending December 2024 is projected at $4.36 per share, representing a decrease of 35.1% from the previous year [8]. - Over the past three months, the Zacks Consensus Estimate for Gilead has increased by 15.4%, indicating a positive outlook [8]. Zacks Rating System - The Zacks Rank stock-rating system categorizes stocks into five groups based on earnings estimates, with a strong historical performance, particularly for Zacks Rank 1 stocks which have averaged a +25% annual return since 1988 [7][9]. - Gilead's upgrade to Zacks Rank 2 places it in the top 20% of Zacks-covered stocks, suggesting potential for market-beating returns in the near term [10][11].