GSK: Liberum raises target price

(CercleFinance.com) - Liberum maintains a "hold" rating on GSK (GlaxoSmithKline), although has raised its corresponding target price from 15.
10 pounds to 18.90 pounds, due to a change in its valuation method.

The broker has now adopted a "sum of the parts" valuation method, with the British pharmaceutical group on a mid-term path to split its Consumer Health business from Pharma.

"The Pharma business to ensure it has healthy stand-alone credentials," Liberum notes, which also points out promising data for ovarian cancer and myeloma.


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