UPDATE: Swedbank Downgrades AstraZeneca to Sell; Margins Under Pressure

Swedbank downgraded AstraZeneca

from Reduce to Sell. Swedbank noted, "Later in March, AstraZeneca will stage its first CMD with a new strategy and a new leadership. It is already clear that this will involve committed investments to transform the pipeline's size and potential. Together with the top-line pressure, this should squeeze the short-term earnings. Upside should be revealed gradually after 2015. We downgrade to Sell from Reduce." AstraZeneca closed at $45.80 on Thursday.