{"id":55950,"date":"2025-11-13T01:38:27","date_gmt":"2025-11-13T05:38:27","guid":{"rendered":"https:\/\/stockmarketwatch.com\/stock-market-news\/scotiabank-initiates-broad-pharma-coverage-global-markets-see-mixed-performance\/55950\/"},"modified":"2025-11-13T01:38:27","modified_gmt":"2025-11-13T05:38:27","slug":"scotiabank-initiates-broad-pharma-coverage-global-markets-see-mixed-performance","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/scotiabank-initiates-broad-pharma-coverage-global-markets-see-mixed-performance\/55950\/","title":{"rendered":"Scotiabank Initiates Broad Pharma Coverage; Global Markets See Mixed Performance"},"content":{"rendered":"<h2>Key Takeaways<\/h2>\n<ul>\n<li><strong>Scotiabank initiated &quot;sector outperform&quot; ratings on five major pharmaceutical and biotech firms\u2014Gilead, Eli Lilly, Merck, Amgen, and Johnson &amp; Johnson\u2014setting ambitious price targets ranging from $105 to $1165.<\/strong><\/li>\n<li><strong>Global markets exhibited varied performance, with Australia&#39;s ASX 200 Index dropping 0.52% to 8753.40 points, while Japan&#39;s super long bond yields eased following a firm auction outcome.<\/strong><\/li>\n<li><strong>In the energy sector, Gerdes Energy Research raised its price target for Chevron Corp to $171, reflecting positive analyst sentiment.<\/strong><\/li>\n<li><strong>Currency markets reacted to political and economic developments, with the Euro holding near 1.1600 after the official end of the US government shutdown, and the Pound Yen remaining steady near a two-week high.<\/strong><\/li>\n<\/ul>\n<p>Scotiabank has made a significant move in the pharmaceutical and biotechnology sectors, initiating coverage on several industry giants with &quot;sector outperform&quot; ratings. The bank set a <strong>$140 price target<\/strong> for Gilead Sciences (<a href=\"\/stock\/GILD\">GILD<\/a>), a substantial <strong>$1165 target<\/strong> for Eli Lilly (<a href=\"\/stock\/LLY\">LLY<\/a>), and a <strong>$105 target<\/strong> for Merck &amp; Co Inc (<a href=\"\/stock\/MRK\">MRK<\/a>). Additionally, Amgen Inc (<a href=\"\/stock\/AMGN\">AMGN<\/a>) received a <strong>$385 target<\/strong>, and Johnson &amp; Johnson (<a href=\"\/stock\/JNJ\">JNJ<\/a>) was assigned a <strong>$230 target<\/strong>. This broad positive outlook from Scotiabank signals confidence in the future performance of these major healthcare players.<\/p>\n<p>Across global equity markets, the <strong>ASX 200 Index<\/strong> in Australia experienced a downturn, dropping by <strong>0.52%<\/strong> to close at <strong>8753.40 points<\/strong>. This decline reflects a mixed sentiment in the Asia-Pacific region.<\/p>\n<p>Conversely, the Japanese bond market showed signs of stability as <em>super long bond yields eased<\/em>, indicating a firm outcome from recent auctions. This suggests continued demand for longer-dated Japanese government bonds.<\/p>\n<p>In the energy sector, analyst firm Gerdes Energy Research boosted its price target for Chevron Corp (<a href=\"\/stock\/CVX\">CVX<\/a>) by <strong>$1<\/strong>, setting a new target of <strong>$171<\/strong>. This upward revision indicates a positive outlook for the oil major amidst ongoing market dynamics.<\/p>\n<p>Currency markets also saw notable movements. The <strong>Euro<\/strong> remained stable, trading near <strong>1.1600<\/strong> against the US Dollar after the US government officially ended its shutdown. This resolution likely provided some clarity and reduced uncertainty for currency traders. Meanwhile, the <strong>Pound Yen<\/strong> held steady above <strong>203.00<\/strong>, hovering near a two-week high ahead of upcoming UK data releases. <em>Traders are now awaiting further economic indicators from the UK to gauge future direction<\/em>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways Scotiabank initiated &quot;sector outperform&quot; ratings on five major pharmaceutical and biotech firms\u2014Gilead, Eli Lilly, Merck, Amgen, and Johnson [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":50383,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center 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