AstraZeneca: shares fall after downgrade
(CercleFinance.com) - AstraZeneca shares fell in London on Thursday, hit by a downgrade by Credit Suisse analysts.
Analysts downgraded their rating on the stock to "neutral" from "outperform" this morning, while maintaining their target price at 11,000 pence.
In their comments, analysts judge that the biopharmaceutical group's stockmarket valuation has become "less attractive" after its strong performance YTD.
According to Credit Suisse, this positive momentum shows that investors have now fully embraced the catalysts of Enhertu and DS-1062 (lung cancer treatment) in the near term.
At 10.45am (London time), the stock was down 1.1%, while the UK stock market was up 0.5%.
Copyright (c) 2022 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.
Analysts downgraded their rating on the stock to "neutral" from "outperform" this morning, while maintaining their target price at 11,000 pence.
In their comments, analysts judge that the biopharmaceutical group's stockmarket valuation has become "less attractive" after its strong performance YTD.
According to Credit Suisse, this positive momentum shows that investors have now fully embraced the catalysts of Enhertu and DS-1062 (lung cancer treatment) in the near term.
At 10.45am (London time), the stock was down 1.1%, while the UK stock market was up 0.5%.
Copyright (c) 2022 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.