AstraZeneca: penalised by a broker downgrade
(CercleFinance.com) - AstraZeneca is down 0.
2% and is thus going against the bullish trend in London (+0.7% for the FTSE), penalised by broker Jefferies downgrading its rating on the stock from "buy" to "hold" in a report on the European pharmaceutical sector.
"Following AstraZeneca's significant outperformance, there is not enough headroom left in our raised 6,200p price target to keep the stock on a Buy," the broker says.
After reviewing the latest quarterly results that showed solid performance in the sector, Jefferies said "Novartis remains our top European pick, followed by Roche, with GlaxoSmithKline now in third place."
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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% and is thus going against the bullish trend in London (+0.7% for the FTSE), penalised by broker Jefferies downgrading its rating on the stock from "buy" to "hold" in a report on the European pharmaceutical sector.
"Following AstraZeneca's significant outperformance, there is not enough headroom left in our raised 6,200p price target to keep the stock on a Buy," the broker says.
After reviewing the latest quarterly results that showed solid performance in the sector, Jefferies said "Novartis remains our top European pick, followed by Roche, with GlaxoSmithKline now in third place."
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.