AstraZeneca offers the richest run of drug news in the pharmaceuticals sector over the next 18 months, according to JP Morgan, which sees the coming wave of trial results as key to the company's growth well into the next decade.
The broker, which rates the FTSE 100 group overweight, reiterated a price target of £160.
At the centre of the case is a packed calendar of late-stage readouts.
JP Morgan highlights Datroway in previously untreated lung cancer, with results from one study due in the final quarter of 2026 and another in 2027, alongside the breast cancer drug camizestrant.
Beyond those, the broker points to a string of further data in 2027 that it believes could drive a rerating of the shares.
The list includes laroprovstat, an oral treatment aimed at lowering cholesterol, combination studies for the diabetes drug Farxiga, and Datroway in earlier stages of triple-negative breast cancer.
Also on the slate are puxitatug samrotecan in advanced endometrial cancer and saruparib in prostate cancer.
Taken together, JP Morgan reckons these programmes could offer more than US$10 billion in risk-adjusted peak sales.
That, it argues, should bolster confidence in AstraZeneca's ability to keep growing after 2030, a period some investors worry about as older medicines lose patent protection.
Risk-adjusted peak sales weigh a drug's potential revenue against the chance it fails to reach the market.
The broker views the current share price as an attractive entry point into what it calls a strong mid-term growth story.
Successful readouts next year, it adds, carry significant potential for upgrades to the company's long-term outlook.
It is that combination of near-term catalysts and a longer growth runway that underpins the 'overweight' stance.
