(CercleFinance.com) – AlphaValue announced on Monday that it has raised its opinion on AstraZeneca, which it is changing from ‘reduce’ to ‘accumulate’ with a price target maintained at 12,896 pence.
In a note released in the morning, the independent research office highlights the strong growth recorded by the biopharmaceutical laboratory in oncology, as well as its new status as a ‘giant’ in the treatment of rare diseases.
Two areas that benefit from significant growth and high profit margins, argues the Parisian firm, which also salutes the solid execution of the group in terms of research and development (R&D).
In view of the “impressive” results obtained by its drug projects at the most advanced stage, AlphaValue is revising its earnings forecasts for the group upwards, which leads it to raise its opinion on the stock.
Following these comments, AstraZeneca shares were up 0.9% on Monday morning on the London Stock Exchange, in a FTSE 100 index down 0.6%.
Copyright (c) 2022 CercleFinance.com. All rights reserved.
The information and analyzes disseminated by Cercle Finance only constitute a decision-making aid for investors. The responsibility of Cercle Finance cannot be held directly or indirectly following the use of information and analyzes by readers. It is recommended that any uninformed person consult a professional adviser before any investment. This indicative information does not in any way constitute an incitement to sell or a solicitation to buy.