This report is not a personal recommendation and does not take into account your personal circumstances or appetite for risk.
AstraZeneca: Pick a rising channel…
2) AstraZeneca (AZN)
AZN shares appear to have been flitting between one uptrend and another over the past 6 years. The question is: will they bounce off support at current levels or fall through towards 3300p? Since AZN is one of a group of defensive plays in the UK 100 , it’s no surprise the recent market rally has taken some of the wind out of its sails. However, with the Brexit referendum in June, the next two months could well see some risk taken off the table. That would include fund flows into safer havens like precious metals (plus miners like Randgold Resources (RRS)) and fixed income, but the investor seeking better returns may still opt for defensive equities that pay dividends.
Do you think AstraZeneca shares will fall back towards the lows of 2450p or rally up to the highs of 4900p?
Broker Consensus (Source: Bloomberg, 31 Mar)
Bloomberg broker consensus is neutral, yet gives an average 12-month target price of £47.80 (+25%). Furthermore, all but two brokers have their targets above the current price.
As always, we can give you the full rundown on all our Q2 stock picks. Just give us a call or drop us an email.
« Back to Category
This research is produced by Accendo Markets Limited.
Research produced and disseminated by Accendo Markets is classified as non-independent research,
and is therefore a marketing communication. This investment research has not been prepared in accordance
with legal requirements designed to promote its independence and it is not subject to the prohibition on
dealing ahead of the dissemination of investment research. This research does not constitute a personal
recommendation or offer to enter into a transaction or an investment, and is produced and distributed for information purposes only.
Accendo Markets considers opinions and information contained within the research to be valid when published,
and gives no warranty as to the investments referred to in this material. The income from the investments referred to may go down as well as up,
and investors may realise losses on investments. The past performance of a particular investment is not necessarily a guide to its future performance.
Prepared by Michael van Dulken, Head of Research
