What Can We Expect After GlaxoSmithKline (NYSE:GSK)’s Upgrade By BofA Merrill?

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GlaxoSmithKline (NYSE:GSK) Stock Upgrade

New York-listed GlaxoSmithKline (NYSE:GSK), was increased by equity analysts at BofA Merrill. The firm increased its rating on the $97.65 billion market capitalized company to a respectable Buy from their past rating of Neutral.

From a total of 3 analysts covering GlaxoSmithKline (NYSE:GSK) stock, 1 rate it a ”Buy”, 0 a “Sell”, and 3 a ”Hold”. This means that 25% of the ratings are positive. The highest target price is $49 while the lowest target price is $43. The mean of all analyst targets is $45.67 with a 13.58% above today’s ($40.06) stock price. GlaxoSmithKline was the topic of 7 analyst reports since September 8, 2015 according to the firm StockzIntelligence Inc. Argus Research maintained shares on December 7 with “Buy” rating. JP Morgan upgraded GSK stock in a recent report from October 12 to “Neutral” rating. Finally, Bank of America upgraded the stock to “Neutral” rating in a report issued on a September 8.

Approximately 1.14 million shares of stock traded hands. GlaxoSmithKline plc (ADR) (NYSE:GSK) has declined 14.17% since May 6, 2015 and is downtrending. It has underperformed by 13.37% the S&P500.

 What Can We Expect After GlaxoSmithKline (NYSE:GSK)'s Upgrade By BofA Merrill?

GlaxoSmithKline plc. is a healthcare firm that researches and develops pharmaceuticals, vaccines and consumer healthcare products. The company has a market cap of $97.65 billion. The Firm operates in two divisions: Pharmaceuticals and Vaccines, and Consumer Healthcare. It has 6.56 P/E ratio. The Pharmaceuticals segment develops and makes medicines to treat a range of acute and chronic diseases.

According to Zacks Investment Research, “GlaxoSmithKline is one of the world’s leading research based pharmaceutical and healthcare companies and is committed to improving the quality of human life by enabling people to do more, feel better and live longer. They also have leadership in four major therapeutic areas: anti-infectives, central nervous system (CNS), respiratory and gastro-intestinal/metabolic.” Get a free copy of the Zacks research report on GlaxoSmithKline plc (ADR) (GSK).

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