This report is not a personal recommendation and does not take into account your personal circumstances or appetite for risk.
Trade Parameters
Technical Observations – For
Technical Observations – Against
Technicals indicators suggest the shares are in the midst of a correction back to long-term rising support. Peer AstraZeneca seems to be having all the good news at the moment. Rotation? Best news for GSK lately was delay to a generic whereas AZN has had positive clinical results. Citigroup negative on some big US pharma stock lately. UK fund manager Neil Woodford sold stake in GSK due over-reliance on HIV business.
Consensus majority neutral which offers potential for downgrades if prospects darken, and with 80% of price targets suggesting upside, these may require revisiting which results in ratings downgrades. The average of the 20% of brokers expecting downside is 1510p, well below our target. Most brokers updated already this month, so limited potential for positive surprises.
Next Event: Q2 Results, 26 Jul
Latest Broker 12-Month Consensus: 39% Buy, 54% Hold, 6% Sell (full breakdown on request)
Source: DowJones Newswires, Reuters News, Bloomberg or Company Press releases
| Share | 1wk | 1m | 3m | 6m | 1yr | 2yr | 3yr | 4yr | 5yr |
| Perf % | -2.2 | 2.4 | -1.0 | 6.6 | 12.4 | 10.8 | -0.3 | -7.2 | 15.2 |
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