GSK: Credit Suisse downgrades stock, cuts target price

(CercleFinance.com) - Credit Suisse has downgraded its rating on the GSK stock from "neutral" to "underperform" and has also cut its corresponding target price to 1400p (vs.
1580p previously).

Based on the PharmaValues 2021 analysis, Credit Suisse points to "the poor R&D productivity at GSK and the need to invest in pipeline".

As a result, the analyst firm has announced that it will reduce its dividend forecast for the group in 2022 from 80p to 50p.

Finally, Credit Suisse is concerned about the US CDC's guidelines that " COVID vaccines should not be co-administered with other vaccinations," including GSK's key growth driver Shingrix.

The share is down almost 1% just before noon on Wednesday.


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