AstraZeneca: Contrarian Buy After The China Challenge (Rating Upgrade)
- AstraZeneca's price plunge following a fraud investigation in China could be just the time to buy the stock as the big picture looks positive.
- The company's numbers were strong in H1 2024 and its earnings release for Q3 2024 is expected to continue reflecting financial health.
- The combination of a positive outlook for 2024 and the latest price drop also makes the forward P/E attractive.
Roland Magnusson
When I last wrote about the Anglo-Swedish pharmaceuticals company AstraZeneca (NASDAQ:AZN) in June, further upside to the stock was already unlikely. This prompted a Hold rating on it, breaking the trend from the previous seven Buy ratings on it since 2022. This
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