Morgan Stanley Initiates Coverage On AstraZeneca with Overweight Rating, Announces Price Target of $85
Portfolio Pulse from Benzinga Newsdesk
Morgan Stanley analyst Mark Purcell has initiated coverage on AstraZeneca (NASDAQ:AZN) with an Overweight rating and set a price target of $85. This new coverage could influence investor sentiment and potentially impact AstraZeneca's stock price in the short term.
January 23, 2024 | 10:45 am
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AstraZeneca receives an Overweight rating from Morgan Stanley with a price target of $85, which may positively affect its stock price.
Analyst ratings, especially from prominent financial institutions like Morgan Stanley, can significantly influence investor perception and stock prices. An Overweight rating suggests that the analyst believes the company's stock price will outperform the average return of the stocks in the analyst's coverage universe. The announcement of an $85 price target, which is presumably higher than the current trading price, indicates a bullish outlook on AstraZeneca's performance, potentially leading to increased investor interest and a rise in stock price in the short term.
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