Analyst Sachin Jain of Bank of America Securities reiterated a Buy rating on AstraZeneca (AZN – Research Report), retaining the price target of p14,500.00.
Sachin Jain has given his Buy rating due to a combination of factors, including AstraZeneca’s promising clinical trial results and its robust pipeline. The recent data from the Enhertu study in first-line HER2-positive breast cancer showed a significant improvement in progression-free survival, indicating a potential $3 billion peak sales opportunity. This positive outcome, along with the ongoing confidence in the monotherapy arm, supports the Buy rating.
Sachin Jain also highlights AstraZeneca’s attractive valuation and the potential for a rerating as the company continues to deliver game-changing results over the next 18 months. With a strong lineup of upcoming clinical reads, including the AVANZAR and SERENA-6 trials, AstraZeneca is positioned for high single-digit sales growth. These factors, combined with the company’s strategic initiatives and market potential, underpin the Buy recommendation.
According to TipRanks, Jain is ranked #6065 out of 9371 analysts.
In another report released today, Goldman Sachs also maintained a Buy rating on the stock with a £153.18 price target.