GSK: Credit Suisse still a seller, but raises target price

(CercleFinance.com) - Credit Suisse maintains its 'underperform' rating (reflecting the need for R&D) on GSK shares, although has increased its target price for them from 1400p to 1600p.


The broker is updating its model on GSK ahead of the separation of Haleon, its healthcare arm, scheduled for Monday 18 July.

"We update our valuation assuming an initial Haleon mkt. cap. of £33.1b with c.54.5% of value transferred to shareholders," the analyst says.

The broker adds that on average it has reduced its EPS estimates by 2.5% over 2022-26, reflecting a starting base that is 2.9% lower than what it previously estimated.



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