AstraZeneca boosted by two sell-side moves


"The impact of tapering by the Fed on income fund investments in pharmaceuticals looks to be less than we had feared," says Jefferies' Jeffrey Holford, upping AstraZeneca (AZN +1%) to a Hold. He notes management recently took steps to boost near-term core EPS and reduce pressure on payout ratios - investors should be reassured of a steady dividend being maintained.

UBS also gives a boost, initiating the stock with a Buy rating.

Earlier: Holford upgrades JNJ to a Buy.

See also: UBS launches coverage on a number of other big pharma names.

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