Analyst Sachin Jain of Bank of America Securities maintained a Buy rating on AstraZeneca (AZN – Research Report), retaining the price target of p14,500.00.
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Sachin Jain has given his Buy rating due to a combination of factors that suggest a positive outlook for AstraZeneca. One key reason is the strong sales momentum observed in FY24, alongside the FY25 guidance that suggests a solid performance, even though the foreign exchange impact is slightly negative. The earnings per share (EPS) guidance for FY25 in constant exchange rates (CER) is better than investor expectations, suggesting a conservative outlook with room for potential upgrades as the year progresses. Additionally, the company’s robust product sales and pipeline developments are compelling, with several high-impact Phase III trial results expected in the upcoming 18 months.
Another important consideration for the Buy rating is the resilience in AstraZeneca’s operational performance despite challenges in the Chinese market and the impact of the Inflation Reduction Act (IRA). The company’s total revenue guidance aligns with consensus, indicating steady performance. The pipeline’s promising prospects, including key assets with significant sales potential, reinforce confidence in the company’s future growth trajectory. Therefore, Sachin Jain views AstraZeneca as a strong investment with promising growth opportunities in the near to medium term.
According to TipRanks, Jain is a 3-star analyst with an average return of 3.4% and a 55.17% success rate.
In another report released today, J.P. Morgan also maintained a Buy rating on the stock with a £140.00 price target.