BMO Has Increased Confidence In AstraZeneca (AZN) After Non Deal Roadshow

BMO Capital analyst, Alex Arfaei, reiterated his Outperform rating on shares of AstraZeneca (NYSE: AZN) after hosting hosted investor meetings with David Fredrickson, the company's Global Head of Oncology.

The analyst stated "We left the meetings with increased confidence about AZN's oncology franchise: Tagrisso and Imfinzi have excellent growth potential in EGFR+ and stage-III NSCLC. We have a positive bias for Imfinzi+Treme+chemo in lung cancer (e.g., POSEIDON). For Lynparza, SOLO-1 should exceed the ~15m PFS difference seen in SOLO-2. However, Calquence's head-to-head vs. Imbruvica sounds like it will be delayed".

No change to the price target of $41.

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 $34.88 yesterday.

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