AstraZeneca price target lowered to 11,100 GBp from 11,800 GBp at Guggenheim

Guggenheim lowered the firm’s price target on AstraZeneca to 11,100 GBp from 11,800 GBp and keeps a Buy rating on the shares. The firm’s model now reflects revised 2024-plus forecasts, the impact of the recent Tagrisso approval based on FLAURA2, and the recent BLA acceptance for Dato in non-squamous NSCLC, where its anticipates approval. However, the firm still views 2024 as “a relatively catalyst-light year” for AstraZeneca, the analyst tells investors.