MARKET TALK: AstraZeneca Soars Post 2Q; Evolution Keeps Sell

29th Jul 2010 09:06

0806 GMT [Dow Jones] AstraZeneca (AZN.LN) shares +4.1% at 3334p, with core 2Q results strong and guidance increased, notes Evolution Securities. Separately, the FDA panel backed broad Brilinta approval, Evolution adds, a positive for the stock. However, Evolution keeps at sell, with a 2850p target. It says AstraZeneca is the only stock in its coverage universe where it expects significant sales declines by 2020. "With the positive Brilinta and Crestor news flow behind us we see little to support the stock and recommend taking profits," adds Evolution. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires July 29, 2010 04:06 ET (08:06 GMT)