Sachin Jain, an analyst from Bank of America Securities, reiterated the Buy rating on AstraZeneca (AZN – Research Report). The associated price target remains the same with p14,500.00.
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Sachin Jain has given his Buy rating due to a combination of factors including AstraZeneca’s strong second-quarter performance and promising future prospects. The company’s group sales and earnings per share have shown significant year-over-year growth, driven by robust performance in key franchises such as Tagrisso, Imfinzi, and Farxiga. Despite some pricing pressures and increased R&D spending, the overall growth trajectory remains positive.
Additionally, the valuation of AstraZeneca appears attractive, with a potential for rerating as the company continues to deliver on its pipeline. The upcoming 18 months are expected to be pivotal, with several potential game-changing developments that could significantly boost sales. While there are some risks associated with investor sentiment and competition, the potential upside from new product approvals and market expansions supports the Buy recommendation.