(News Bulletin 247) – Berenberg announced on Wednesday that it had lowered its price target on AstraZeneca from 12,600 to 12,400 pence, while renewing its buy recommendation on the stock.

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After consulting the pharmaceutical group’s 2022 annual report, the analyst said he expects an improvement in its cash position, which means, according to him, that the payment of the dividend is well secured.

But Berenberg also notes that AstraZeneca will face significant spending in the near term, with some $2 billion in payments related to its agreements and contracts expected this year.

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The title remains despite everything its favorite value within the major European laboratories, the intermediary saying that it is betting a lot on the results of the clinical trial on Datopotamab deruxtecan (Dato-DXd) in lung cancer, planned by the end. in June, with a view to further improving visibility on cash flow.

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