(CercleFinance.com) – Jefferies announced on Wednesday that it had raised its recommendation on GSK shares from ‘hold’ to ‘buy’, with a target price raised to 1900 from 1550 pence so far.
In a sectoral note, the research firm estimates that the development of new injectable treatments against HIV, the launch of vaccines and the marketing of new products should allow a soft landing of activity following the expiry of the patents in HIV, planned for 2028.
In view of this underestimated growth profile, the analyst evokes an ‘attractive’ risk/return cocktail faced with the prospect of an amicable settlement of the Zantac file and exaggerated concerns around the 2024 financial year .
Jefferies highlights a ‘deeply discounted’ stock showing an upside potential of 23%.
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