(CercleFinance.com) – Jefferies announced on Wednesday that it had lowered its recommendation on AstraZeneca shares from ‘buy’ to ‘hold’ with a price target reduced from 12,500 to 11,000 pence.
In a research note, the analyst says he is concerned about the lack of visibility surrounding the group’s profit margins, but especially the absence of news in sight regarding its clinical portfolio.
The intermediary emphasizes that the approval of datopotamab deruxtecan (dato DXd) in lung cancer is not expected before the end of the year, at best, which leads him to downgrade his opinion on the stock.
Jefferies judges, on the other hand, that the laboratory’s research and development (R&D) projects outside of oncology are still largely ignored by the market, which, according to it, offers potential for long-term appreciation.
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