MARKET TALK: Charles Stanley Ups AstraZeneca To Accumulate

1st Jul 2010 11:37

1037 GMT [Dow Jones] Charles Stanley upgrades AstraZeneca (AZN.LN) to accumulate from reduce following the company's victory in the Crestor patent case. Says the decision removes overhang in the share price. "Investors should be aware of the significance of the ruling given that Crestor is without doubt AstraZeneca's most important product in terms of sales expectations to 2014 and beyond." Reckons even if the ruling is challenged, it will be upheld. Expects management to confirm a substantial part of the company's free cash generation to shareholders via a share buyback when it reports 2Q results on July 29. Shares -0.5% at 3154p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires July 01, 2010 06:37 ET (10:37 GMT)