Deutsche Bank downgraded GSK (GSK) to Hold from Buy with a price target of 1,350 GBp, down from 1,700 GBp. The firm cites President-elect Donald Trump’s naming Robert F. Kennedy Jr. as nominee to lead Health and Human Services for the downgrade. Whether the nominee passes confirmation remains to be seen, but Deutsche now expects GSK’s “deeply discounted multiple” persist for the foreseeable future, the analyst tells investors in a research note. Deutsche views vaccines to be among the greatest achievements to impact public health but says Kennedy does not share this view. It believes Kennedy’s nomination also has a negative read for Sanofi (SNY), BioNTech (BNTX) and Moderna (MRNA).
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on GSK:
- GSK downgraded to Hold from Buy at Deutsche Bank
- Vaccine makers fall after Trump nominates RFK to head HHS
- Trump names Robert Kennedy as Secretary of Health and Human Services
- GSK announces Blenrep met key secondary endpoint in DREAMM-7 trial
- Reporters tweets about ‘vague whispers’ of bid interest in TG Therapeutics
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
