AstraZeneca: shares gain ground with broker upgrade
(CercleFinance.com) - AstraZeneca shares are up 0.
2% at 4,876.5 pence today, after broker Jefferies upgraded the stock to "buy," with a new target price of 5,600 pence.
The US broker thinks that the Anglo-Swedish drugmaker AstraZeneca is at a turning point.
"Accelerating new product launches and improving margins should deliver over 20% core EPS growth in the mid-term," the broker says in a note sent to clients today.
Jefferies believes the group's earnings quality is improving, whilst the dividend becomes once again covered by the group's underlying business.
"Recovering growth, driven by the underlying business warrants a modest mid-term premium valuation," the broker says.
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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.
2% at 4,876.5 pence today, after broker Jefferies upgraded the stock to "buy," with a new target price of 5,600 pence.
The US broker thinks that the Anglo-Swedish drugmaker AstraZeneca is at a turning point.
"Accelerating new product launches and improving margins should deliver over 20% core EPS growth in the mid-term," the broker says in a note sent to clients today.
Jefferies believes the group's earnings quality is improving, whilst the dividend becomes once again covered by the group's underlying business.
"Recovering growth, driven by the underlying business warrants a modest mid-term premium valuation," the broker says.
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.