AstraZeneca: Liberum raises its target price
(CercleFinance.com) - Liberum raised its target price for the AstraZeneca share to 8,300 pence from 8,250 pence on Wednesday, noting that the biopharmaceutical company has returned to growth thanks to a refreshed portfolio of drugs.
In the next five years, the drugmaker's pipeline momentum will add over 13 billion dollars to sales, over 50% more than at present, the broker wrote in a note to clients.
In the meantime, cost growth will be subdued, Liberum added, meaning that EBIT should grow at 18% per annum and core EPS at 19% per annum over 2019-2024, it said.
Liberum reiterated its "buy" recommendation on the share.
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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.
In the next five years, the drugmaker's pipeline momentum will add over 13 billion dollars to sales, over 50% more than at present, the broker wrote in a note to clients.
In the meantime, cost growth will be subdued, Liberum added, meaning that EBIT should grow at 18% per annum and core EPS at 19% per annum over 2019-2024, it said.
Liberum reiterated its "buy" recommendation on the share.
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.