UPDATE: Swedbank Downgrades AstraZeneca to Reduce on Valuation
Swedbank lowered its rating on AstraZeneca (NYSE: AZN) from Neutral to Reduce as the company faces price pressures ahead.
Swedbank commented, "Increasing the focus on productivity and innovation is exciting, but after spending USD 23bn over 5 years, execution and transparency is critical. AZN is facing price pressure, soft launch support and a period of underperforming emerging markets. Despite AZN's attractive direct yield, we downgrade to Reduce (Neutral) and await improved transparency."
AstraZeneca closed at $46.70 on Thursday.
Latest Ratings for AZN
|Dec 2016||Leerink Swann||Upgrades||Market Perform||Outperform|
|Sep 2016||PiperJaffray||Initiates Coverage on||Overweight|
|Sep 2016||Exane BNP Paribas||Downgrades||Outperform||Neutral|
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