AstraZeneca: Liberum downgrades to 'hold'.
(CercleFinance.com) - Liberum has downgraded its "buy" rating on AstraZeneca to "hold," citing pure valuation grounds after the shares' recent rally.
The brokerage firm says there is little upside, unless investors are willing to pay for a meaningful chance of success in the Mystic lung cancer trial.
However, Liberum sees longer term opportunities, particularly Imfinzi being tested as an adjuvant for cancer treatment, which has prompted the broker to raise its target price for the share from 4,800 pence to 5,000 pence.
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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 brokerage firm says there is little upside, unless investors are willing to pay for a meaningful chance of success in the Mystic lung cancer trial.
However, Liberum sees longer term opportunities, particularly Imfinzi being tested as an adjuvant for cancer treatment, which has prompted the broker to raise its target price for the share from 4,800 pence to 5,000 pence.
Copyright (c) 2017 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.