Standpoint Research Downgrades AstraZeneca (NYSE:AZN)

Standpoint Research downgraded shares of AstraZeneca (NYSE: AZN) this morning. The recommendation was initiated on February 25, 2007. Adjusted for dividends, AZN outperformed the S&P by 2800 basis points during this period. Standpoint still has a price target of $60 on the shares for 2011-2012.

AstraZeneca (NYSE: AZN) has a market cap of $74.27 billion. The stock offers a very compelling yield of 6.63%. The shares trade at a trailing P/E of 9.20 and a forward P/E of 8.21.