AstraZeneca's (AZN) earnings are poised to see a double-digit growth in 2025 with "continued strong product sales momentum," Morgan Stanley said, initiating coverage on the Cambridge, UK-based drug manufacturer with an overweight rating and a price target of 145 pounds ($180).
Company guidance to grow earnings per share by a low double-digit percentage and revenue by a high single-digit percentage "has proven a clearing event," and "we see scope for positive earnings revisions," Morgan Stanley said Wednesday in a report.
The outlook eased investor concerns on "continued high investment spend" and Inflation Reduction Act and volume-based procurement headwinds, the report said.
AstraZeneca "uniquely" offers exposure to the multibillion-dollar markets for cancer, cardiovascular and renal antibody-drug conjugates and next-generation immuno-oncology, the report said.
Shares of the company rose 1.3% in recent Wednesday trading.
Price: 73.69, Change: +0.96, Percent Change: +1.32
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