Morgan Stanley Issues an Upgrade on AstraZeneca (NYSE:AZN) Shares. What’s Next?


AstraZeneca (NYSE:AZN) Stock Upgrade

In a comprehensive report issued to clients and investors today, Morgan Stanley boosted shares of AstraZeneca (NYSE:AZN) to a solid Overweight rating from their previous Underweight rating.

From a total of 4 analysts covering AstraZeneca plc (ADR) (NYSE:AZN) 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 $40.45 while the lowest target price is $34. The mean of all analyst targets is $36.86 with a 4.08% above today’s ($34.59) stock price. AstraZeneca plc (ADR) was the topic of 8 analyst reports since July 31, 2015 according to the firm StockzIntelligence Inc. Nordea downgraded shares on November 2 to “Hold” rating. S&P Research upgraded shares to “Buy” rating and $38 target share price in a report from a July 31. Bryan Garnier & Cie upgraded AZN stock in a recent report from September 18 to “Buy” rating. Finally, HSBC upgraded the stock to “Buy” rating in a report issued on a September 2.

Approximately 2.81M shares of stock traded hands. AstraZeneca plc (ADR) (NYSE:AZN) has declined 51.32% since April 28, 2015 and is downtrending. It has underperformed by 49.70% the S&P500.

 Morgan Stanley Issues an Upgrade on AstraZeneca (NYSE:AZN) Shares. What’s Next?

AstraZeneca PLC is a global biopharmaceutical company. The company has a market cap of $87.48 billion. The Firm discovers, develops and commercializes prescription medicines for Cardiovascular and Metabolic diseases; Oncology; Respiratory, Inflammation and Autoimmunity, Infection, Neuroscience and Gastrointestinal. It has 51.62 P/E ratio. The Company’s medicines include Crestor for managing cholesterol levels; Seloken/Toprol-XL for hypertension, heart failure and angina; Onglyza for Type 2; Iressa for lung cancer; Faslodex for breast cancer; Zoladex for prostate and breast cancer; Pulmicort for asthma; Symbicort for asthma and COPD (chronic obstructive pulmonary); Nexium for acid-related diseases; Seroquel XR for schizophrenia, bipolar disorder and depressive disorder, and Synagis for RSV (respiratory syncytial virus), a respiratory infection in infants.

According to Zacks Investment Research, “AstraZeneca PLC is one of the top five pharmaceutical companies in the world based on sales and is a therapeutic leader in cardiovascular, gastrointestinal, oncology, anesthesia including pain management, central nervous system (CNS) and respiratory products. They are engaged in the research, development, manufacture and marketing of ethical (prescription) pharmaceuticals and agricultural products, and the supply of healthcare services.” Get a free copy of the Zacks research report on AstraZeneca plc (ADR) (AZN)