This Analyst Slightly Lowers AstraZeneca Forecast Amid Earnings Concerns, Although Still Bullish on Future Growth Potential
Portfolio Pulse from Vandana Singh
AstraZeneca Plc (NASDAQ:AZN) reported Q4 2023 sales of $12.02 billion, slightly below consensus, with core EPS of $1.45 missing expectations. Despite this, BMO Capital Markets remains bullish, slightly lowering its forecast but still optimistic about future growth, adjusting the target price from $82 to $80.
February 12, 2024 | 7:18 pm
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AstraZeneca's Q4 2023 earnings slightly missed expectations, leading BMO Capital to adjust its forecast and target price, yet maintaining an optimistic outlook on the company's growth potential.
The slight miss in earnings and the adjustment of forecasts by BMO Capital could lead to short-term price volatility. However, the maintained Outperform rating and optimistic growth outlook suggest a neutral to positive impact on the stock in the short term.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100