AstraZeneca: Oddo BHF confirms its recommendation on the stock

(CercleFinance.com) - Oddo BHF maintains its neutral rating on AstraZeneca shares, with an unchanged target price of 12,500 pence.


The laboratory reported better-than-expected quarterly results, with revenues up 21% cc driven by its Oncology (+22%), CVRM (+20%) and Respiratory (+29%) franchises.

In addition, Core EPS rose by 27% at cc, i.e. 2% above expectations, reports the analyst.

In this context, AZN is adjusting its guidance with revenues and Core EPS up in 'high teens' vs 'mid teens' at cc.

The growth profile remains attractive, with a TMVA of 24-28th EPS of 10.8% vs. 9.4% for the sector. However, we are maintaining our recommendation at Neutral due to the lack of visibility on ongoing investigations in China', concludes the broker.

Copyright (c) 2024 CercleFinance.com. All rights reserved.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.