
NYSE:AZN
This summary was created by AI, based on 9 opinions in the last 12 months.
AstraZeneca PLC (AZN-N) is exhibiting strong potential driven by its attractive valuation and substantial growth in their oncology business, corroborated by several experts. The stock has performed well, up 30% in the past 12 months, with expectations of reaching ambitious targets in 2024. Analysts point out the advanced pipeline and the company's strategic shift from defensive to growth positions, highlighting the stock's resilience in the healthcare sector. With a supportive 200-day moving average and a solid dividend yield, experts express confidence in its performance and future prospects, suggesting that current evaluations offer a favorable entry point for investors.
Very strong R&D pipeline, with new products expected. Off recent share price highs, which is a good time to buy. Margins very strong on new products. Expecting earnings to rise in the immediate future. Low double digit EPS @ 16x earnings a very strong value proposition. Will continue to hold for the long term.
Is overlooked in pharma. It boasts an amazing oncology business, including recent positive trial data on phase 2 and 3 lung cancer drugs, which could be breakthroughs. Shares have doubled in the last 5 years and has been climbing since 2016. Last April they delivered a blowout quarter with an earnings beat and a bullish forecast including a 8.5% compound annual growth rate based on doubling multi-billion drugs to 25 by 2030. Also, they are developing obesity drugs.
We reiterate AZN as a TOP PICK. Recently reported earnings indicated a 19% increase in earnings and revenues. Management announced positive development on 9 new drugs worth $5 billion in future revenues and a plan to invest over $800 million in Ontario creating 700 jobs. The shares trade at 18x earnings and support a 30% ROE. We recommend trailing up the stop (from $52) to $64, looking to achieve $88 -- upside potential of 21%. Yield 1.4%
(Analysts’ price target is $88.24)