MARKET TALK: UBS Raises AstraZeneca Price Target

30th Jun 2010 11:55

1055 GMT [Dow Jones] UBS raises AstraZeneca (AZN.LN) price target to 4100p from 3800p following the company's victory in the Crestor patent case. UBS had previously seen 17% of earnings at risk from the US Crestor issue, but the bank notes this risk has now subsided. UBS adds that as Crestor discounts abate, the stock should also re-rate due to other big positives. UBS notes the company has had upgrades of as much as $5B on '14 sales forecasts, predicated on emerging markets. Buy rating. Shares +9% at 3212p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires June 30, 2010 06:55 ET (10:55 GMT)