AstraZeneca: Morgan Stanley raises target price
(CercleFinance.com) - Morgan Stanley has raised its target price for the shares of Anglo-Swedish drugmaker AstraZeneca from 6,400 pence to 6,500 pence, while keeping an "equal weight" rating on the stock.
"Cash conversion concerns and uncertainty have overshadowed a strong operating performance in the first quarter of 2019," the broker wrote in a note.
Morgan also thinks that the company's increased focus on cancer drugs presents a buy opportunity.
The AstraZeneca share is currently up 1.1% at 5,803 pence in London.
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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.
"Cash conversion concerns and uncertainty have overshadowed a strong operating performance in the first quarter of 2019," the broker wrote in a note.
Morgan also thinks that the company's increased focus on cancer drugs presents a buy opportunity.
The AstraZeneca share is currently up 1.1% at 5,803 pence in London.
Copyright (c) 2019 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.