MARKET TALK: Panmure Raises AstraZeneca Price Target

30th Jun 2010 10:35

0935 GMT [Dow Jones] Panmure Gordon raises AstraZeneca (AZN.LN) price target to 3600p from 3300p, saying the company's Crestor patent victory removes a significant overhang. Expects the company to prevail in any likely appeal which will be conducted by a panel of 3 expert intellectual property lawyers. "AstraZeneca remains a conviction buy and we expect the market to start focusing on how the company emerges from its trough year '12 which could result in significant upgrades to consensus." Shares +9.4% at 3224p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires June 30, 2010 05:35 ET (09:35 GMT)