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AstraZeneca ( (GB:AZN) ) has provided an announcement.
AstraZeneca has announced plans to harmonize its share listing structure across the London Stock Exchange, Nasdaq Stockholm, and the New York Stock Exchange. This move involves a direct listing of AstraZeneca shares on the NYSE, replacing the existing US ADRs on Nasdaq, to create a global listing for global investors. The company aims to broaden its investor base and enhance its access to capital markets, particularly in the US, which hosts the largest and most liquid public markets. Despite these changes, AstraZeneca will remain headquartered and tax resident in the UK, continuing its inclusion in the FTSE 100 and OMX Stockholm 30 indices, and adhering to UK governance standards. This strategic move is expected to support AstraZeneca’s long-term growth by reaching a broader mix of global investors.
The most recent analyst rating on (GB:AZN) stock is a Buy with a £12052.00 price target. To see the full list of analyst forecasts on AstraZeneca stock, see the GB:AZN Stock Forecast page.
Spark’s Take on GB:AZN Stock
According to Spark, TipRanks’ AI Analyst, GB:AZN is a Outperform.
AstraZeneca’s strong financial performance and positive earnings call are the primary drivers of its overall score. However, bearish technical indicators and a relatively high valuation weigh down the score. The company’s robust pipeline and strategic initiatives provide a positive outlook despite some market challenges.
To see Spark’s full report on GB:AZN stock, click here.
More about AstraZeneca
AstraZeneca is a global, science-led biopharmaceutical company based in Cambridge, UK. It focuses on the discovery, development, and commercialization of prescription medicines in areas such as Oncology, Rare Diseases, and BioPharmaceuticals, including Cardiovascular, Renal & Metabolism, and Respiratory & Immunology. Its innovative medicines are sold in over 125 countries and used by millions of patients worldwide.
Average Trading Volume: 2,211,163
Technical Sentiment Signal: Buy
Current Market Cap: £170.5B
See more data about AZN stock on TipRanks’ Stock Analysis page.