This report is not a personal recommendation and does not take into account your personal circumstances or appetite for risk.
Trade Parameters
Observations – For
Observations – Against
Attractive technical signals and set-up after bounce from long-term rising support. Potential for US healthcare bill to help shares as it could unlock the door to deregulation. Share may be oversold on HIV franchise growth concerns. Potential benefit from positive drug news and any further GBP weakness related to Brexit.
Consensus is biased bullish, although the many neutrals offer potential for upgrades as the shares rebound, helping the shares rally further. Note 79% of broker target prices suggest upside from current levels. The July average of broker updates is for 1722p which is just above our trade objective and corresponds with June highs .
Next Event: Q2 Results, 26 July
Latest Broker 12-Month Consensus: 41% Buy, 53% Hold, 6% Sell (full breakdown on request)
Source: DowJones Newswires, Reuters News, Bloomberg or Company Press releases
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