AstraZeneca Faces Complex Outlook

Dow Jones11-09

0807 GMT - AstraZeneca shares have benefited from broad-based strength in the sector recently, but the outlook for next year seems complex, Deutsche Bank's Emmanuel Papadakis says in a research note. The U.K. drugmaker reported mixed results for the third quarter, yet the market reaction was fairly effusive, the analyst says. This probably has to do with broader market trends, with investors shifting their sector preferences, than with the business, according to Papadakis. AstraZeneca is due to provide a number of updates next year, but the analyst says he is circumspect on the extent to which that might boost its stock price relative to current expectations. Deutsche Bank lifts its target price to 120 pounds from 117 pounds. Shares closed at 139.30 pounds on Friday.

At the request of the copyright holder, you need to log in to view this content

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment