AstraZeneca: Liberum still a buyer, but cuts target price
(CercleFinance.com) - Liberum reinstates its "buy" rating on the AstraZeneca share, while reducing its corresponding target price from 9,600 pence to 9060 pence, after the group reported Q4 that " showed better than expected sales but higher operating costs".
"Guidance for 2021 of low teens sales growth and faster earnings growth remains the best in the sector, although the EPS range of $4.75-5.00 shows less operating leverage than we expected," the broker said.
In addition, Liberum points out that the British pharmaceutical company has also " confirmed its breast cancer drug (SERD) has moved into phase 3, lining up a potential 2026 approval".
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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.
"Guidance for 2021 of low teens sales growth and faster earnings growth remains the best in the sector, although the EPS range of $4.75-5.00 shows less operating leverage than we expected," the broker said.
In addition, Liberum points out that the British pharmaceutical company has also " confirmed its breast cancer drug (SERD) has moved into phase 3, lining up a potential 2026 approval".
Copyright (c) 2021 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.