Robert Way
Since I last wrote about the UK based pharmaceuticals company AstraZeneca (NASDAQ:AZN) in March, its price is up by a significant 18.4%. Even at that time it was more than obvious that the stock is due an
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AstraZeneca: The Price Upside Is Exhausted For Now (Rating Downgrade)
Summary
- As expected, AstraZeneca's price has increased in the past quarter, and by a notable 18.4%, following a robust Q1 2024 performance.
- Recent approvals in the US market, earlier attractive market multiples and a dividend increase also supported the stock's performance.
- However, its latest acquisition of Fusion Pharmaceuticals can drag earnings down, its long-term revenue growth target is lower than current rates and the market multiples indicate it's fairly valued.
Manika is a macroeconomist with over 20 years of experience in industries including investment management, stock broking, investment banking. She also runs the profile Long Term Tips [LTT], which focuses on the generational opportunity in the green economy. Her investing group, Green Growth Giants, takes the theme a step further from LTT with a deeper dive into opportunities presented by the segment.
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