UK MARKET TALK ROUNDUP: BROKERS COMMENTS

30th Jun 2010 07:07

Broker comments in the UK today. Compiled by Dow Jones Newswires Markets Desk, [email protected] Contact us in London. +44-20-7842-9464 [email protected] 0607 GMT [Dow Jones] UBS raises AstraZeneca (AZN.LN) price target to 4100p from 3800p after it successfully defends its U.S. Crestor patent. Says this victory significantly safeguards around 17% of earnings, at risk due to the Crestor trial. From here, expects earnings momentum to continue. Says with AstraZeneca due to generate about $35Bln of net cash by '15E, the announcement of a major buyback could lead to up to 20%-40% of consensus '15 EPS upgrades, just after the FDA's meeting on Brilinta on July 28. Keeps at buy. Shares closed Tuesday at 2947p. ([email protected]) Contact us in London. +44-20-7842-9288 [email protected] (END) Dow Jones Newswires June 30, 2010 02:07 ET (06:07 GMT)