GlaxoSmithKline, the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Sachin Jain from Bank of America Securities upgraded the rating on the stock to a Hold and gave it a p2,000.00 price target.
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Sachin Jain has given his Hold rating due to a combination of factors that influence GlaxoSmithKline’s future performance. The company is set to launch two significant products, Blenrep and Depemokimab, which are expected to impact its revenue positively. However, there are uncertainties surrounding these launches, and the market remains cautious about their potential success.
Additionally, GlaxoSmithKline faces challenges with its HIV portfolio, particularly due to an impending patent cliff that could lead to a decline in sales. While the company is exploring new opportunities and potential growth in other areas, the overall outlook remains mixed. These factors contribute to Jain’s decision to maintain a Hold rating, as the potential for growth is balanced by the risks and uncertainties in the company’s pipeline and market conditions.
In another report released today, Berenberg Bank also maintained a Hold rating on the stock with a £16.60 price target.