** Gilead Sciences GILD.O on Tuesday issued 2026 financial forecast below analysts' expectations, including sales of its pioneering twice-yearly HIV prevention drug, Yeztugo, which was approved in June last year

** Shares down 3.3% premarket

ROOM FOR UPSIDE

** BMO Capital Markets ("outperform", PT: $160) says even with recent share performance, it sees continued momentum into 2026, anchored by PrEP drugs such as Yeztugo and Decovy, as it sees room for revenue upside and margin flexibility

** RBC Capital Markets ("Perform", PT:$118) says while it remains cautious on Yeztugo's long-term potential given caution around PrEP market expansion, it suspects some reminders around on-the-ground realities may be designed to keep near-term expectations from spiraling too high

** J.P.Morgan("overweight",PT: $160) sees Gilead's HIV business as well positioned and expects room for upside throughout 2026 as Yeztugo ramp gains traction

** Needham ("buy", PT: $170) remains bullish on Yeztugo HIV PrEP launch; says Gilead's guide for $800 million in 2026 revenue leaves room for upside