Barclays on AstraZeneca (AZN): Acquisition of AMLN Makes Strategic Sense but High Price Tag
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Price: $92.77 --0%
Rating Summary:
19 Buy, 8 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
19 Buy, 8 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Barclays maintains an 'Equalweight' on AstraZeneca (NYSE: AZN) price target of GBP31.50.
Analyst, Mark Purcell, said, "Joint pleasure and pain in winning Amylin (Nasdaq: AMLN) bid: Bristol-Myers Squibb (NYSE: BMY) and AZN team up to acquire Amylin for $31/share, AZN paying BMS $3.4bn to participate. The deal will be earnings dilutive for AZ in '12 and '13 and given the lack of cost synergy scope in the diabetes space appears to be an expensive investment in the potential of Amylin's Byetta/Bydureon ex-US, although any potential valuation dilution would seem limited to around 60p/share (2%) in the absence of any synergies at all."
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 $44.75 yesterday.
Analyst, Mark Purcell, said, "Joint pleasure and pain in winning Amylin (Nasdaq: AMLN) bid: Bristol-Myers Squibb (NYSE: BMY) and AZN team up to acquire Amylin for $31/share, AZN paying BMS $3.4bn to participate. The deal will be earnings dilutive for AZ in '12 and '13 and given the lack of cost synergy scope in the diabetes space appears to be an expensive investment in the potential of Amylin's Byetta/Bydureon ex-US, although any potential valuation dilution would seem limited to around 60p/share (2%) in the absence of any synergies at all."
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 $44.75 yesterday.
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