(CercleFinance.com) – Stifel maintains its ‘buy’ recommendation on AstraZeneca stock, but reduces its price target on the stock from 13,300p to 12,800p.
While the laboratory will present its 2022 annual report and 2023 orientation on February 9, the analysis office believes that “for multiple reasons, 2023 could be more difficult than expected”, although this is not yet reflected. by consensus.
For 2023, Stifel mentions in particular the decline in sales linked to Covid, the increased competition from generics in certain sectors or even the increase in the level of taxation in the United Kingdom.
‘Overall, we are detecting a few small negatives in the short term which could impact the share price (also best performance of the last 12 months in the European Large Cap Pharma space), resulting in a break in the bullish trajectory’, concludes Stifel.
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