HSBC downgrades AstraZeneca to hold, cuts target price to £137.50 from £165
2026-07-14 11:56:42
According to CNBC, HSBC downgraded AstraZeneca from buy to hold, saying it no longer sees an attractive risk-reward balance after a late-stage clinical trial failure last week sent the drugmaker’s shares lower. The bank cut its target price to £137.50 ($183.95) from £165, a reduction of more than 16%. AstraZeneca shares fell as much as 9% on Friday after a late-stage clinical trial for a heart disease drug missed its target, and the stock is down 12% since the results were released. HSBC analysts said the company’s premium valuation has relied on market confidence in its research and development engine, and warned that additional trial setbacks could further erode that confidence and lead to a rerating.
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