MARKET TALK: BarCap Upgrades AstraZeneca To Overweight

11th Jun 2010 07:28

0628 GMT [Dow Jones] Barclays Capital upgrades AstraZeneca (AZN) to overweight from equalweight and lifts its target price to 3400p from 3300p. "Due diligence around the Crestor US patent litigation leads us to consider the risks sufficiently tolerable for a more positive view of the stock." It says AstraZeneca is one of the cheapest stocks in terms of the P/E ratio and far from a bad business. It adds that a dividend yield of 6.2% with little dividend risk seems increasingly attractive in the context of an uncertain economic outlook and possible interest rate rises. Shares closed Thursday at 2989p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires June 11, 2010 02:28 ET (06:28 GMT)