AstraZeneca plc (LON:AZN) Lifted to “Buy” at Investec

AstraZeneca plc (LON:AZN) was upgraded by research analysts at Investec from a “hold” rating to a “buy” rating in a report released on Wednesday, August 9th, Marketbeat reports. The brokerage presently has a GBX 4,900 ($63.61) price objective on the biopharmaceutical company’s stock, down from their prior price objective of GBX 5,000 ($64.91). Investec’s price target would suggest a potential upside of 10.19% from the stock’s previous close.

Several other analysts have also recently commented on the company. Citigroup Inc. reiterated a “buy” rating and issued a GBX 6,000 ($77.89) target price on shares of AstraZeneca plc in a report on Thursday, July 13th. Deutsche Bank AG reduced their target price on AstraZeneca plc from GBX 5,500 ($71.40) to GBX 5,350 ($69.45) and set a “buy” rating on the stock in a report on Friday, April 28th. Barclays PLC reiterated an “overweight” rating and issued a GBX 6,000 ($77.89) target price on shares of AstraZeneca plc in a report on Friday, April 28th. Jefferies Group LLC reduced their target price on AstraZeneca plc from GBX 5,500 ($71.40) to GBX 5,300 ($68.80) and set a “hold” rating on the stock in a report on Wednesday, July 12th. Finally, HSBC Holdings plc lowered AstraZeneca plc to a “reduce” rating and set a GBX 4,500 ($58.42) price target on the stock. in a research note on Tuesday, July 4th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the stock. AstraZeneca plc presently has an average rating of “Hold” and a consensus price target of GBX 4,932.67 ($64.04).

AstraZeneca plc (LON:AZN) opened at 4447.00 on Wednesday. The stock has a 50 day moving average of GBX 4,818.59 and a 200 day moving average of GBX 4,862.48. AstraZeneca plc has a 52 week low of GBX 3,996.00 and a 52 week high of GBX 5,520.00. The company’s market cap is GBX 56.30 billion.

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In other AstraZeneca plc news, insider Nazneen Rahman acquired 39 shares of AstraZeneca plc stock in a transaction on Thursday, July 27th. The stock was purchased at an average price of GBX 4,370 ($56.73) per share, for a total transaction of £1,704.30 ($2,212.51).

About AstraZeneca plc

AstraZeneca PLC (AstraZeneca) is a biopharmaceutical company. The Company focuses on discovery and development of products, which are then manufactured, marketed and sold. The Company focuses on three main therapy areas: Oncology, Cardiovascular & Metabolic Disease (CVMD) and Respiratory, while selectively pursuing therapies in Autoimmunity, Infection and Neuroscience.

Analyst Recommendations for AstraZeneca plc (LON:AZN)

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