MARKET TALK: Citigroup Raises AstraZeneca Price Target

14th Jul 2010 09:41

0841 GMT [Dow Jones] Citigroup raises AstraZeneca (AZN.LN) price target to 3300p from 2800p. Says a look at Brilinta data ahead of the upcoming FDA advisory committee review leads the brokerage to take a more positive view on the outcome than previously. Thinks a recommendation for approval is more likely than not. Meanwhile, assumes that Crestor growth slows to low single digit in the U.S. and EU in the face of generic Lipitor in '11 and beyond. Says should this not be the case and double digit growth persists, '14E revenues could be $1.3Bln higher than forecast. Keeps at hold. Shares -0.8% at 3244p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires July 14, 2010 04:41 ET (08:41 GMT)