Bank of America Securities Maintains a Sell Rating on Amgen (AMGN)

Core Insights - Amgen Inc. (NASDAQ:AMGN) is recognized as a significant large-cap value stock, although it currently holds a Sell rating from Bank of America Securities with a price target of $272.00 [1] - The company announced a $650 million expansion of its U.S. manufacturing network, which is expected to create approximately 750 new jobs and enhance drug production capabilities [2] - Amgen specializes in biotechnology, focusing on the discovery, development, manufacturing, and marketing of human therapeutics, particularly for complex cancers with unmet medical needs [3] Company Developments - The $650 million investment will support the integration of advanced technologies in the operations process at its biologics manufacturing facility in Juncos [2] - The expansion is part of Amgen's strategy to increase production capacity and meet growing demand for its therapeutics [2] Market Position - While Amgen shows potential as an investment, there are suggestions that certain AI stocks may offer better upside potential with lower downside risk [4]