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AstraZeneca: Berenberg raises target price

(CercleFinance.com) - On Monday, Berenberg announced that it had raised its price target for AstraZeneca shares from 130 pence to 150 pence, indicating a upside potential of around 20% from current levels.


In a note, the analyst explains that he is more optimistic about the laboratory's business, saying that he expects annual sales of $74bn by 2030, equivalent to 11.8 pence more per share.

The broker - which maintains its buy recommendation on the stock - points out that this figure is $6bn below the group's 2030 target of $80bn a year.


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