GSK: Tesaro seen as an 'odd choice' by UBS
(CercleFinance.com) - UBS reinstates its "buy" rating on GSK (GlaxoSmithKline), along with its target price of 1700 pence, meaning upside potential of 5%, saying that, "As a first R&D acquisition Tesaro seems an odd choice.
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"Diluting earnings and using sparse capital in a highly competitive commercial and R&D field is odd to us," the broker believes the day after the British health group announced this deal.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
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"Diluting earnings and using sparse capital in a highly competitive commercial and R&D field is odd to us," the broker believes the day after the British health group announced this deal.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.