This report is not a personal recommendation and does not take into account your personal circumstances or appetite for risk.
Shire PLC
Shire PLC (SHP)
Shire PLC markets, licenses and develops prescription medicines. It’s stock is therefore seen as defensive – demand for medicines is not affected in a big way by swings in market confidence or seasonal demand – and it’s defensives. The company specialises in treatments for attention deficit and hyperactivity disorders among other, more disturbing physical malades one might see on TV shows like “Embarrassing Bodies”.
Shares in Shire PLC are up 3.5% year to date and have managed an impressive 20% rally since the close on 23 June. Shares are currently trading near resistance at 5044p, with a break above potentially seeing a further 14% towards the July 2015 high of 5775p.
There are 23 brokers following Shire PLC, 22 of which are rating the stock as a ‘buy.’ The most bearish price target is 3% above the current price while the average target price is seeing some 20% upside for the stock (Source: Bloomberg, 14 July).
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Prepared by Michael van Dulken, Head of Research
