Haleon downgraded to Neutral from Buy at Goldman Sachs

Goldman Sachs downgraded Haleon (HLN) to Neutral from Buy with a price target of 380 GBp, up from 360 GBp. The shares have outperformed since the fiscal 2204 results and particularly over the last month, the analyst tells investors in a research note. The firm says Haleon is currently trading at a 5% premium with staples versus a 16% discount historically. As the stock has now reached several key milestones, Goldman sees limited catalysts to drive near term price performance, the analyst says. Goldman also views Pfizer’s 22.6% (PFE) remaining holding an an overhang in the short term.