Citi upgrades AstraZeneca on under-appreciated pipeline
23rd Apr 2014 11:08
The potential value of AstraZeneca's (AZN) drug pipeline is still under-appreciated by the market, with or without a bid from US pharmaceutical peer Pfizer (PFE), according to Citigroup. The bank upgraded its rating for the stock from 'neutral' to 'buy' and hiked its target price for the shares fro
Read moreWednesday broker round-up UPDATE
23rd Apr 2014 09:04
AB Foods: Numis upgrades from sell to reduce with a target price of 2240p. AstraZeneca: Citi raises target price from 3500p to 4900p and upgrades to buy. Fenner: Investec cuts target price from 375p to 360p and reiterates its sell recommendation. Genus: N+1 Singer upgrades to hold with a target p
Read moreLondon open: Stocks edge higher, AB Foods jumps on Primark expansion
23rd Apr 2014 08:40
- AB Foods jumps on Primark expansion plans - Stocks rise, but upside limited - BoE minutes, economic data ahead - Chinese manufacturing PMI contracts again techMARK 2,749.64 +0.41% FTSE 100 6,688.65 +0.10% FTSE 250 16,067.20 -0.09% UK stocks edged higher on Wednesday morning with Primark owner As
Read moreWednesday tips round-up: Astra Zeneca, Torotrak
23rd Apr 2014 07:46
When a company says that it is willing to pay an over 30 per cent premium for one of its rivals, investors should sit up and take notice. Well, that's exactly what Pfizer did yesterday by offering to purchase AstraZeneca. Simply said, the British company's stock is cheap although the firm readily ad
Read moreLondon close: FTSE closes in positive territory, pharma stocks lead
22nd Apr 2014 16:15
- FTSE closes up 56.51 points at 6,681.76 - Easter weekend retail sales disappoint - Monthly US existing home sales down 0.4 per cent techMARK 2,738.48 +2.18% FTSE 100 6,681.76 +0.85% FTSE 250 16,082.24 +1.10% The FTSE 100 closed on an upbeat note today, having touched 6,700 earlier in the sessio
Read moreSector movers: M&A gives pharma stocks a big boost
22nd Apr 2014 15:28
Pharmaceuticals and biotechnology stocks were rising by an average of six per cent in London on Tuesday, helped by a wave of high-profile M&A deals across the global healthcare sector. Leading the charge in the UK was AstraZeneca on reports that it could be at the centre of the largest deal in phar
Read moreFTSE 100 movers: AstraZeneca surges on takeover speculation
22nd Apr 2014 14:37
AstraZeneca was rising strongly on speculation that Pfizer could make a takeover approach for the company, in a transaction valued in the region of 60bn pounds, representing the biggest deal ever in the industry's history and the largest foreign takeover of a UK business on record. While AstraZene
Read moreBroker tips: AstraZeneca, GlaxoSmithKline, Shire, Pets at Home
22nd Apr 2014 12:53
Societe Generale has kept a 'sell' recommendation on AstraZeneca (AZN), questioning the reasoning behind a potential takeover by US pharmaceutical peer Pfizer. Societe said: "In our view, given AZN's forecast revenue and earnings profile through 2018-2019 (an earnings decline until 2018), which is
Read moreLondon midday: Pharma deals lift stocks as FTSE 100 nears 6,700
22nd Apr 2014 11:36
- FTSE 100 at highest since April 4th - Astra jumps on Pfizer takeover speculation - GSK announces massive three-part deal with Novartis techMARK 2,741.04 +2.28% FTSE 100 6,691.88 +1.01% FTSE 250 16,103.19 +1.23% Heightened M&A activity in the pharmaceutical sector gave UK markets a boost on Tues
Read moreRose-tinted glasses needed to acquire AstraZeneca, says Societe
22nd Apr 2014 10:41
Societe Generale has kept a 'sell' recommendation on AstraZeneca (AZN), questioning the reasoning behind a potential takeover by US pharmaceutical peer Pfizer. Nevertheless, while the recent speculation "may be unfounded in reality", M&A chatter may help to support the shares in the short term, Soc
Read morePfizer likely to make second approach for AstraZeneca, says Citi
22nd Apr 2014 09:51
Shares in AstraZeneca (AZN) were rising strongly on Tuesday morning in London on the back of speculation that US pharmaceutical peer Pfizer could make a 60bn-pound takeover bid for the British-Swedish company. The rumours, first reported by The Sunday Times, said that the two parties had held infor
Read moreLondon open: Pharma M&A gives UK stocks a lift
22nd Apr 2014 08:59
- FTSE 100 at highest since April 4th - Astra jumps on Pfizer takeover speculation - GSK announces massive three-part deal with Novartis techMARK 2,729.51 +1.85% FTSE 100 6,683.16 +0.87% FTSE 250 16,031.64 +0.78% Strong gains from heavyweight pharmaceutical groups gave UK markets a boost on Tuesd
Read moreTuesday newspaper round-up: AstraZeneca, Ukraine, Energy companies
22nd Apr 2014 07:10
AstraZeneca has recruited the services of two Wall Street heavyweights to fend off any possible further takeover attempt by US rival Pfizer. The American company, for its part, has hired JP Morgan to advise it on a possible purchase. Shares of Pfizer actually gained on the news although default swap
Read moreAstraZeneca jumps in US trading on Pfizer takeover speculation - UPDATE
22nd Apr 2014 06:07
US shares of AstraZeneca surged in New York on Monday on speculation that the company could be at the centre of the largest pharmaceutical takeover in history. The Sunday Times said informal talks between AstraZeneca and Pfizer had taken place in recent weeks, which saw the US pharma giant make a t
Read moreSunday newspaper round-up: AstraZeneca, Ukraine, Tax cuts
20th Apr 2014 19:53
In recent weeks, Pfizer has held informal conversations with British rival AstraZeneca about a possible takeover by the US drugs giant, according to senior investment bankers and industry sources. With 50,000 employees worldwide the UK outfit, Britain's tenth largest company, might be valued at over
Read more