As Price Falls, Vetr Upgrades GlaxoSmithKline To Buy
The Vetr crowd on Thursday upgraded its rating for GlaxoSmithKline plc (ADR) (NYSE: GSK) from 3 stars (Hold), issued 527 days ago, to 4 stars (Buy). Crowd sentiment at the time of the upgrade was mostly positive, with 80 percent of Vetr user ratings bullish.
Share price in GSK took a pronounced downturn throughout April, in part due to the company's recall of 600,000 defective inhalers that occasionally failed in delivering the correct amount of medication per use.
GSK's stock has fallen more than 2.5 percent since the beginning of the month and was recently trading around $40.80.
Currently, the Vetr crowd's average target price for GlaxoSmithKline is up at $45.30, which is still just below the average analyst target price of $45.67. Less than 2 percent of Vetr users are holding GSK in their watch lists.
Latest Ratings for GSK
|Sep 2016||PiperJaffray||Initiates Coverage on||Overweight|
|Sep 2016||Exane BNP Paribas||Downgrades||Neutral||Underperform|
|Aug 2016||Argus Research||Maintains||Buy|
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