GlaxoSmithKline: near multi-year highs after UBS upgrade
(CercleFinance.com) - GlaxoSmithKline shares return to highs of over 18 years on Thursday, after UBS upgraded the stock from "neutral" to "buy" while raising its target price from 1,610 pence to 1,900 pence.
The British drugmaker is one of the few shares afloat on the FTSE index on Thursday, trading up 0.3% at 1,701.4 pence.
In a note to clients, UBS cites a "positive set up into 2020."
"We think GSK's HIV franchise can return to growth next year and risks in oncology look skewed to the upside" the broker pointed out.
Copyright (c) 2019 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.
The British drugmaker is one of the few shares afloat on the FTSE index on Thursday, trading up 0.3% at 1,701.4 pence.
In a note to clients, UBS cites a "positive set up into 2020."
"We think GSK's HIV franchise can return to growth next year and risks in oncology look skewed to the upside" the broker pointed out.
Copyright (c) 2019 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.