GSK: UBS downgrades stock
(CercleFinance.com) - UBS has downgraded its recommendation on GSK (GlaxoSmithKline) from 'buy' to 'neutral', with a target price cut from 2040 pence to 1580 pence, with its new TP just 5% higher than the British healthcare group's last closing share price.
The broker explains that its downgrade reflects the uncertainty surrounding Arexvy, the weakness of Shingrix in the US and the continuing overhang of the Zantac litigation. While it considers the valuation to be 'attractive', UBS sees no clear catalysts in the dossier.
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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.
The broker explains that its downgrade reflects the uncertainty surrounding Arexvy, the weakness of Shingrix in the US and the continuing overhang of the Zantac litigation. While it considers the valuation to be 'attractive', UBS sees no clear catalysts in the dossier.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
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.