Analyst Views: Astrazeneca shares have seen recent volatility; what will 2015 hold?

 
Adam Hignett
BANK OF AMERICA | MERRILL LYNCH
A buy, given AZN’s best-in class pipeline, which offers potential for it to deliver premium growth. The deal for US rights to Actavis’s respiratory products for $600m is in-line with expectations, given Actavis owned US rights to Almirall’s respiratory brands, which AZN recently acquired. Target: £52

ANDREW BAUM | CITIBANK
AZN continues as our preferred buy-rated global pharma. We think the market continues to underestimate the oncology, immune oncology, autoimmune pipelines and Brilinta PEGASUS data. The quality of near term earnings will likely underwhelm, but the dividend is well covered. Target: £54

ALEXANDRA HAUBER | UBS
A buy. It has a solid 2015 outlook and good final quarter sales from emerging markets, which countered the loss of profits and a very low tax rate of 11 per cent in the fourth quarter. The decision to buy Actavis' LAMA brands and Daliresp makes sense and expands AZN's respiratory brands. Target: £55

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