UPDATE: Pareto Securities Upgrades AstraZeneca; Raises PT

According to a research report published earlier today, Pareto Securities has upgraded AstraZeneca

from Sell to Hold, and has increased PT from $46 to $47. In the report, Pareto Securities commented, “We believe the risk reward to enter the share is good; the share trades at P/E 7.3, Crestor sales goes steady, Dapagliflozin may receive a positive CHMP opinion, fostamatinib results are expected in Q4 12E, better cost control becoming visible and share repurchases to have positive impact on the share. Another positive for the share may be if the new chairman and mgmt presents a new strategy for the company.” AstraZeneca closed yesterday at $45.65.