| CATEGORY: BROKER RECOMMENDATIONS SECTOR: PHARMACEUTICALS & BIOTECHNOLOGY |
Broker snap: Defensive investors to boost GSK, AstraZeneca |
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Wed 09 Jan 2008
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| GSK - GlaxoSmithKline |
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| Latest Prices |
| Name |
Price |
% |
| GlaxoSmithKline |
1,261.50p |
+0.20% |
| AstraZeneca |
3,280.00p |
-0.15% |
| Shire Plc |
1,446.00p |
+0.63% |
| |
| FTSE 100 |
5,371 |
+0.09% |
| FTSE 350 |
2,835 |
+0.18% |
| FTSE All-Share |
2,773 |
+0.20% |
| FTSEurofirst 300 |
1,055 |
-0.06% |
| techMARK |
1,673 |
+0.31% |
| techMARK 100 |
1,840 |
+0.64% |
| Pharmaceuticals & Biotechnology |
9,224 |
+0.09% |
|
LONDON (SHARECAST) - Credit Suisse has lifted its price targets for GlaxoSmithKline, AstraZeneca and Shire, saying it expects the defensive qualities of the pharmaceuticals sector to attract investors amid continuing economic uncertainty.
It raised price targets for GSK to 1,250p from 1,200p, AstraZeneca to 2,375 from 2,210p and Shire to 1,240p from 1,130p.
The upgrades came as it maintained its ‘marketweight’ stance on the European pharmaceuticals sector.
However, it said the likelihood of investors moving into the sector is in spite of its deteriorating fundamentals, such as setbacks for GSK on its Cervarix and Avandia drugs and concerns about its R&D strategy.
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