Trade Report: The JPMorgan Chase & Co. Cuts AstraZeneca plc (AZN) Price Target to GBX 4,600

The JPMorgan Chase & Co. Cuts AstraZeneca plc (AZN) Price Target to GBX 4,600

AstraZeneca plc (LON:AZN) had its target price dropped by research analysts at JPMorgan Chase & Co. from GBX 4,900 ($61.22) to GBX 4,600 ($57.47) in a research report issued to clients and investors on Monday. The brokerage presently has a “neutral” rating on the biopharmaceutical company’s stock. JPMorgan Chase & Co.’s target price suggests a potential upside of 6.92% from the company’s previous close.

A number of other brokerages have also issued reports on AZN. Citigroup Inc. restated a “buy” rating on shares of AstraZeneca plc in a research note on Monday, November 7th. Goldman Sachs Group Inc. set a GBX 4,000 ($49.98) target price on shares of AstraZeneca plc and gave the company a “sell” rating in a research note on Tuesday, October 4th. Bryan, Garnier & Co restated a “buy” rating and issued a GBX 5,100 ($63.72) target price on shares of AstraZeneca plc in a research note on Tuesday, November 22nd. Morgan Stanley upped their target price on shares of AstraZeneca plc from GBX 5,000 ($62.47) to GBX 5,800 ($72.46) and gave the company an “overweight” rating in a research note on Friday, August 19th. Finally, Deutsche Bank AG restated a “buy” rating and issued a GBX 6,200 ($77.46) target price on shares of AstraZeneca plc in a research note on Tuesday, October 11th. Four research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of GBX 4,958.40 ($61.95).

Shares of AstraZeneca plc (LON:AZN) opened at 4246.53906 on Monday. The firm has a 50-day moving average price of GBX 4,627.08 and a 200-day moving average price of GBX 4,581.14. AstraZeneca plc has a one year low of GBX 3,680.00 and a one year high of GBX 5,505.00. The stock’s market cap is GBX 53.72 billion.

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