MARKET TALK: Societe Generale Lifts AstraZeneca Price Target

2nd Jul 2010 13:54

1254 GMT [Dow Jones] Societe Generale lifts AstraZeneca (AZN.LN) price target to 3150p from 2850p after the company's Crestor patent win. Says all major US patent litigation has now been resolved in AstraZeneca's favor, with Crestor looking secure until '16, Nexium until '14 and Seroquel until '12. Says the only near-term risk for the company is related to the antiplatelet Brilinta, as it is awaiting regulatory approval. Brokerage is braced for a controversial discussion on Brilinta and severe delay in the US. Warns there could be significant pressure on investor sentiment if it disappoints. Keeps at hold. Shares -0.7% at 3072p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires July 02, 2010 08:54 ET (12:54 GMT)