Jefferies Upgrades AstraZeneca (AZN) to Buy

September 12, 2016 6:42 AM EDT
Get Alerts AZN Hot Sheet
Price: $27.91 -2.07%

Rating Summary:
    13 Buy, 7 Hold, 4 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 23 | Down: 34 | New: 34
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Jefferies upgraded AstraZeneca (NYSE: AZN) from Hold to Buy and raised its price target to 5,800.00p from 5,400.00p.

Analyst Jeffrey Holford commented, "We have upgraded AZN to Buy as we see a much higher probability of success and a larger market opportunity from the MYSTIC study than consensus implies. We believe that BMY's failure in CM-026 has increased the size of the IO combo opportunity and timing now favours AZN. We see positive asymmetry with up to 39% upside in AZN shares if MYSTIC hits vs. 10% downside if it fails."

For an analyst ratings summary and ratings history on AstraZeneca click here. For more ratings news on AstraZeneca click here.

Shares of AstraZeneca closed at $32.20 yesterday.

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