Cowen Upgrades AstraZeneca (AZN) to Outperform

Cowen analyst Steve Scala upgraded AstraZeneca (NYSE: AZN) from Market Perform to Outperform with a price target of $48.00 (from $42.00).

The analyst comments "AZN is delivering a strong turnaround, which previously we viewed as largely reflected in stock. However, last week's deal for a promising breast cancer drug, in tandem with 5% stock decline, offers a compelling entry point. Upcoming news and further P&L improvement should power AZN shares."

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 $40.43 yesterday.

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