Morgan Stanley upgraded AstraZeneca to Overweight from Equal Weight with a price target of 13,200 GBp, up from 12,800 GBp. The analyst sees a positive risk/reward for AstraZeneca and Daiichi-Sankyo into the top-line data for Dato-DXd in second-line metastatic non-small cell lung cancer. The firm’s base case scenario is that Dato-DXd shows a 30-40% profession free survival benefit versus chemo, with AstraZeneca shares up 3%-5%.
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