Shire: Liberum downgrades 'buy' rating.
(CercleFinance.com) - Liberum has downgraded its rating on the Shire stock from "buy" to "hold" and has trimmed its target price target from 42 pounds to 41 pounds, following the dollar's appreciation of over 14% since the broker upgraded the stock in mid-November.
The broker considers that the pharmaceutical laboratory's valuation is "simply too compelling to ignore, with all the key risks finally more than priced in."
“We still believe that, if handled right, the update on the neuroscience strategic review due by year end could be a catalyst for the shares, but with fundamental upside now limited the risk/reward is more balanced,” the broker added.
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