(CercleFinance.com) – AlphaValue on Wednesday lowered its recommendation on AstraZeneca, which moved to ‘accumulate’ against ‘buy’ so far, with a price target held at 8,608 pence.
In a research note, the research office believes that the title of the Anglo-Swedish biopharmaceutical group remains attractive despite concerns that may surround its level of short-term profitability.
AlphaValue recognizes that these uncertainties – which mainly relate to the prospect of an acceleration in research and development (R&D) investments and marketing expenses – are leading it to revise its margin forecasts downwards in the short term.
But the Parisian firm also notes that these operating expenses are intended to support the activity, which should allow the laboratory to post one of the highest turnover growth in the sector in the years to come, a scenario which leads him to maintain a positive opinion on the value.
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