AstraZeneca: Liberum raises price target
(CercleFinance.com) - Liberum kept its "buy" rating on AstraZeneca but raised its price target on the stock, from 9030 pence to 9770 pence, after the drugmaker recently signed a cancer collaboration with Japan's Daiichi Sankyo.
In a note to clients, the broker said it believes their joint cancer drug could become a "blockbuster," reaching estimate risk-adjusted peak sales of 2.6 billion dollars.
"This adds to an already strong oncology franchise, and we note accelerating momentum for new launches Enhertu and Calquence," Liberum added.
"The franchise will underpin double-digit earnings growth as it climbs to 60% of sales by 2030, up from 40% today," the British broker said.
Copyright (c) 2020 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.
In a note to clients, the broker said it believes their joint cancer drug could become a "blockbuster," reaching estimate risk-adjusted peak sales of 2.6 billion dollars.
"This adds to an already strong oncology franchise, and we note accelerating momentum for new launches Enhertu and Calquence," Liberum added.
"The franchise will underpin double-digit earnings growth as it climbs to 60% of sales by 2030, up from 40% today," the British broker said.
Copyright (c) 2020 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.