UBS upgraded AstraZeneca (AZN) to Neutral from Sell with an unchanged price target of 11,300 GBp. The firm cites the stock’s 24% decline over the past three months amid China government investigations and “disappointing” data on Dato-DXd lung potential for the upgrade. While significant China uncertainty, but wholesale loss of AstraZeneca’s franchise seems unlikely, the analyst tells investors in a research note.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on AZN:
- AstraZeneca price target lowered to EUR 140 from EUR 150 at Berenberg
- Grail tests first patient for TROPION-Lung12 Phase 3 study
- Lunit announces collaboration with AstraZeneca to develop AI-powered tools
- AstraZeneca’s Tagrisso recommended for approval in EU by CHMP for certain NSCLC
- FDA Cellular, Tissue & Gene Therapies Advisory Committee holds virtual meeting
