Berenberg downgraded GSK (GSK) to Hold from Buy with an unchanged price target of 1,600 GBp. GSK has delivered 12% absolute share price performance year-to-date, the highest in the sector, the analyst tells investors in a research note. The firm says a better than anticipated start to any of the upcoming product rollouts “could reinvigorate investor interest” and begin to address 2028 HIV patent expiry fears. However, investors will likely “adopt a show-me attitude,” contends Berenberg.
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